U.S. shopping malls see 13% value increase in commercial real estate comeback

American shopping malls are experiencing a significant resurgence, with property values increasing by 13% over the past year. According to data from real-estate research firm Green Street, this growth outpaces all other commercial real estate sectors and is moving at double the pace of the broader market’s recovery.

This turnaround follows a period of decline marked by department store closures and pandemic-related lockdowns. Analysts note that the current environment is among the strongest for malls since the COVID-19 era. The recovery is being driven by shifts in tenant mix, including luxury brands and diverse dining options, as well as high foot traffic at major destinations.

Key performers include Minnesota’s Mall of America and New Jersey’s American Dream, both of which attract approximately 40 million visitors annually. Additionally, CBL Properties has reported a 48% rise in stock value this year while expanding its portfolio.