Originally published on March 22, 2024, by Patricia Kirk for UrbanLand Magazine.

As the recent cultural and real estate realignment called “The Great Mall Sorting” continues, A-plus malls are thriving, while the B and C properties are gradually being repurposed, reused, and completely rethought, according to architect Sean Slater, senior principal at the architectural firm RDC in San Diego.

As department stores have pulled out, Class A mall operators have been pouring millions of dollars into reinventing themselves to survive and prosper by rethinking their anchor strategies based upon local needs and market demand. In recent news, Netflix just announced it will take over a two-story space formerly occupied by Lord & Taylor at King of Prussia Mall in Pennsylvania.

Replacement anchors run the gamut, including a variety of entertainment concepts, healthcare facilities, grocery stores, museums, community colleges, municipal offices, post offices, coworking spaces, offices, and casinos, says Richard Latella, executive managing director and leader of the retail practice group at Cushman & Wakefield’s valuation and advisory group in New York City, who noted that top-tier malls are now enjoying higher sales revenue than they did prior to the pandemic.