In this edition of Thalhimer’s Research Spotlight, we focus on the trend of turning obsolete enclosed malls into vibrant mixed-use developments. Richmond’s retail market is known to run hot, and sustained demand has forced vacancy rates further and further down over the past 15 years. New construction has been limited with only 6 million square feet of new space added in the last decade, and as a result, landlords and developers have turned to existing older malls and centers, converting them into modern campuses that combine commercial and retail space with multifamily components. Click the link below to read the full report.

REPORT: Richmond VA Retail Redevelopment