How the mighty have fallen.
Demolition crews began work earlier this week on Cleveland's Randall Park Mall, once the world's largest shopping center when it was constructed in 1976. The property is being re-purposed into an industrial park.
According to CNNMoney, the mall went under in 2009, a repercussion of the area being hit hard by the recession. The property was once home to stores such as Macy's, Sears, J.C. Penney and Dillard's.
Although malls across the U.S. continue to suffer traffic declines due to the shift toward the web, far from all properties are distressed. Several of the country's top property owners, including Simon Property Group, have seen their occupancy rates and sales per square foot tick higher despite the transition.
One way mall owners and and retailers are combating online sellers is by turning their shopping centers and stores into experiences, rather than just another place to shop. They're doing so by offering concierge services, fusing technology into their dressing rooms and stores, and providing unique dining and entertainment options.
To see the full CNNMoney article, click here.
