Q&A: How malls are becoming multi-use centers as COVID-19 speeds their demise

Article By JEFF COLLINS | Southern California News Group 

PUBLISHED: January 4, 2021 

Shopping centers are adding offices, hotels and apartments as e-commerce cuts into their foot traffic. 

“Retailers have been losing foot traffic for years as e-commerce takes an increasing share of sales,” Barclays reported. “COVID-19 has sharply accelerated this trend.” 

Fifteen percent of mall stores have closed this year, the report says. If that trend persists, 15-17% of malls will fail and may need to be redeveloped for other uses. 

We asked retail consultant Greg Stoffel how that trend is playing out in Southern California. 

• Q: What happens to ghost malls after the shoppers vanish? 
• Q: What Southern California malls already have been or are being redeveloped? 
• Q: How are they being reused? 
• Q: How are redeveloped malls in our region being reused? 
• Q: Which Southern California Malls are at most risk of closing due to COVID-19?
• Q: Barclays said some of the new developments aren’t as valuable as malls, with valuations dropping 60-90%. Is that the case here?
• Q: Looking 10 to 20 years down the road, will malls like South Coast Plaza, Fashion Island, the Beverly Center and Ontario Mills still be around? If so, how will they be different than today?

For the Answers to these questions go to https://www.marinij.com/2021/01/04/qa-how-malls-are-becoming-multi-use-centers-as-covid-19-speeds-their-demise/

How the COVID-19 Pandemic Has Forever Changed the Process of Selling a House

In a world rocked by the COVID-19 pandemic, safety and social distancing are a must, and real estate professionals and sellers have had to adapt to a new way of doing business. That means altering how they approach open houses, closings, and even personal greetings.

The pandemic ushered in many new methods to facilitate selling a home. Here are some of the practices experts say are here to stay. 

• Curbside and no-touch closings 
• Goodbye, out-of-focus photos and meager listing descriptions 
• Virtual showings are here to stay 
• Buying sight unseen 

Source: realtor.com (https://www.realtor.com/advice/sell/covid-19-pandemic-changed-selling-a-house/)

Recap of 2020

We would first like to extend a very Warm Welcome into the New Year from all of us here at LandBlueBook.com! We thought an appropriate way to start off the New Year would be by giving our users a recap of 2020. 

To keep things concise but informative, we compiled a table that we thought might attract your interest. Below you will see the top three companies that have sold the greatest amount of property listings. Please feel free to click on the companies’ logos to go to their websites. You can also click on the states to view the property details. 

Top 3 Companies	States Where Company has SOLD Listings
	Illinois, Mississippi,  Kentucky, Texas
	Iowa, Nebraska,  Illinois
	Virginia

On the following map, the states in red represent the States shown on the table above. 

You can compare for yourself, where you are among the standing. If you’re on top, do your best to stay there throughout the New Year! If you’re not, well, you have a whole year to catch up. Thus far, all of our users’ property listings have compiled to value of over $4.2 Billion Dollars! What that translates to is a lot of potential for 2021-for both you and us! 

Interstate Development Land SOLD at Auction

14.82 Acres of Commercial land SOLD at Auction in Williamstown, Kentucky.

CORPORATE LIQUIDATION – COMMERCIAL DEVELOPMENT IN UNDERSERVED MARKET! • Shovel ready commercial lots along Noah’s Way with Interstate 75 frontage & visibility!

To see this property go to https://www.landbluebook.com/m/p/6b867e62-17dc-4dac-b270-e90bef07f71a