Dead Malls – How to Revive Them

I got wrapped up in a story about dead malls via LinkedIn.com. Why are Malls Getting Mauled” says  mega-shopping centers are endangered.

My city of Scottsdale, Ariz., is a shopping destination for travelers, especially for snowbirds. Within its borders are the remains of dead shopping malls like the Scottsdale Galleria  (which is now full of tech businesses). There was also a years-long tussle about how to deal with the Los Arcos Mall; investors bought it in hopes of bulldozing it and building a hockey arena for the Phoenix Coyotes. And now, it’s Sky Song, a mix of cool and stodgy owned by Arizona State University.

So Many Dead Malls

The LinkedIn.com article pins it all on online shopping — with no mention of the growing “buy local” movements nationwide. Maybe even worldwide. I don’t have stats or even evidence beyond my own observations, so let’s leave that alone for now.

Here’s the fun question: Let’s say malls in your community start dying off. Now, what would you want to do with them”

People in the comments section mention indoor flea markets and indoor “green spaces.”

And that’s not particularly imaginative or fun. Somewhat practical.

My answer” Mix it up, and turn them into some recreational spaces. Dead malls are perfect places for events – music venues, for example. And many would make mind-blowing venues for paintball, Airsoft, even some sort of laser tag-style stuff. Oh, and gyms! I’m not talking about big-box gyms like LA Fitness, but rather yoga, CrossFit or spinning-specific studios. Maybe some real rock-climbing walls. And I could see it being a perfect place for microbreweries to set up.

Reasonable Rent Needed

The key here is reasonable rent. Consider the older malls: The core of Paradise Valley Mall in Arizona dates back to the late 1970s. This building has paid for itself. That means, should retailers start dribbling out, it’s a safe bet for reasonable rents and some left-of-center uses. I realize PV Mall isn’t dying, but I needed a “for example” case.

We could probably apply this “what to do with it”” question to vacant auto dealerships, too. Scottsdale alone has enough of them to house just about every budding entrepreneur around.

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