This amazing organization brings a nationwide and global commonality among members serving the entire shopping center industry.
Shopping Centers are a big part of our lives:
Shopping centers are located in every community across the U.S.– almost 116,000+ in total. (Source: ICSC U.S. Fact Sheet)
Shopping centers are integral to the social fabric of communities by providing a “third place.” They are community centers, providing a place to be with friends or family when not at work or home. Shopping is still a very social event.
According to the U.S. Census Bureau, the value of shopping center construction reached nearly $18.1 billion in 2016–a level not seen since 2008. Much of this was spent on redevelopment as the retail real estate industry has successfully constrained the amount of new supply being put into the pipeline. (Source: U.S. Census Bureau)
Average, American adults visit shopping centers 5.3 times per month. This equates to a total of approximately 1.3 billion visits per month for all adults. (Source: ICSC Monthly Consumer Engagement Surveys)
During the 2016 holiday season, 70% of adult Americans – more than 170 million people – visited a mall. While 73% of those adults shopped, 45% dined at a restaurant or other eating establishment and 26% saw a movie. (Source: ICSC 2016 Post-Holiday Shopping Survey)
New developments anchored by high-end restaurants and surrounded by food markets, clothing stores, office space and residential areas are creating urban multi-use megaplexes focused on “placemaking.” (Source: Bloomberg, “A $20 Billion Megaproject’s Key Ingredient: The Luxury Food Court”)
Leasing teams work very hard to find the “right” tenant that will best complement the shopping center and meet the needs of the surrounding community. Shopping centers are being far more creative in how they lease their space, with a rise in non-traditional tenants and anchor stores (e.g. Whole Foods or a gym as a mall anchor).
The value of retail real estate stretches far beyond retail sales alone, in fact, the current value of shopping center real estate in the U.S. is $1.3 trillion. (Source: ICSC Economic Impact Infographic 2017)
The business of retail influences our entire economy, with a substantial impact on the communities where shopping centers reside; total shopping center sales yielded $2.7 trillion in 2016. (Source: ICSC U.S. Fact Sheet)
Shopping center sales make up about 14% of U.S. GDP. (Source: ICSC U.S. Fact Sheet)
Shopping centers generate $167.3 billion annually in sales taxes, which help fund critical municipal services such as fire departments, police stations, schools and infrastructure like roadways and parks. (Source: ICSC Economic Impact Infographic 2017)
Shopping centers are also responsible for the payment of $27.8 billion in local property taxes–more than enough to cover the 2015 budget for the state of California, the world’s eighth largest economy. (Source: ICSC Economic Impact Infographic 2017)
There are 34 million shopping center-related employees in the U.S. This accounts for 1 out of every 6 jobs. (Source: ICSC Economic Impact Infographic 2017)
Nearly one-third (30%) of Americans over the age of 18 have worked at a shopping center at some point in their lives. (Source: ICSC April 2016 Consumer Engagement Survey)
For every 100 individuals directly employed at a U.S. regional shopping center, an additional 20 to 30 jobs are supported in the community due to multiplier effects. (Source: ICSC)
The vast majority (88%) of U.S. shopping centers are convenience and neighborhood centers. Almost half of these are occupied by locally-owned businesses. (Source: ICSC Economic Impact 2017)
More than 22% of shopping center tenants are in non-retail industries and include doctors and dentists, personal finance and tax professionals, and institutions of higher learning. (Source: ICSC Economic Impact 2017)
*Information provided herein was gathered from Icsc.org
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