Major retailers are fleeing another popular mall

A sprawling Maryland mall, once filled with major retail stores, is rapidly losing tenants. 

Several tenants in the past month have announced plans to leave the Towson Town Center, which has been contending with growing crime issues. In November, four teens were arrested after a robbery and stabbing took place at the mall, according to reports.

However, malls have been struggling for years as e-commerce and changing consumer behaviors have reshaped shopping habits, while inflation continues to squeeze wallets, contributing to reduced foot traffic.

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Last month, Wockenfuss Candies said it "made the difficult decision to permanently close this location, effective immediately."  

Gap-owned Banana Republic, Tommy Bahama and J.Crew's Madewell have also left or plan to leave the mall, according to several reports. 

This comes after the shopping center had already lost a flagship Crate & Barrel store and eateries like the Rainforest Café, according to reports.  

Traditional shopping malls were once bustling centers of commerce, but their popularity started to decline before the COVID-19 pandemic as Amazon and online retail began steadily pulling sales away from physical stores. The pandemic then accelerated this decline as lockdown orders kept people from being able to shop in person. Economic pressures stemming from inflation made matters worse with households tightening their budgets and spending less on discretionary items. 

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San Francisco Centre in California is another mall that has been plagued by soaring vacancies and a string of departures by major retailers. Shake Shack, which confirmed it was exiting the mall last month, told FOX Business that the mall was sold to a new owner that is requiring all tenants to vacate the premises. 

Between 2020 and 2023, the mall lost 46% of its stores, The San Francisco Standard reported. That includes its anchor department store, Nordstrom, which announced in 2023 that it would close both of its downtown San Francisco locations, including its flagship store inside the Westfield San Francisco Centre. The mall's other anchor tenant, Bloomingdale's, left in early 2025.

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In recent months, at least six dining spots have left the mall, including a Jamba Juice, Izzy & Wooks sandwich shop and Mija Cochinita taco shop, according to the San Fransisco Chronicle. 

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Still, there are significant hurdles in converting commercial properties to residential use, particularly when it comes to local zoning laws and construction costs.