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Shopping centers in the U.S. - statistics & facts

As online shopping has grown in popularity, mall operators are seeing the need to shift their shopping centers from purely a shopping location to destinations for entertainment and culture, as a way of attracting more footfall through their doors. For example, the Mall of America in Minnesota, one of the largest malls in the United States, boasts an aquarium, a theme park, and adventure golf, among other attractions.

United States shopping centers

After challenging years in the physical retail industry, there are signs that the conditions for shopping center real estate are easing. The vacancy rate in this market has fallen from its peak of 7.3 percent in the first quarter of 2021, to 5.5 percent in the first quarter of 2025. In most regions of the United States, the volume of shopping center real estate under construction reached over 10 million square feet. The south of the U.S. proved a particularly fertile ground for such developments; nearly half of all shopping center real estate under construction in the country was to be found there.

The companies behind U.S. shopping centers

Brookfield Properties, Simon Property Group, Kimco Realty, and SITE Centers are among the leading shopping center operators in the United States. With over 90 malls and around 70 premium outlets, Simon Property owns over 170 million square feet of gross leasable area. Meanwhile, Kimco Realty was the company owning the largest number of shopping centers in the country, with 568 precincts owned or partly owned as of 2024.
This text provides general information. ÌÇÐÄÆƽâ°æ assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by ÌÇÐÄÆƽâ°æ Research Department, Dec 17, 2025

Key insights

  • U.S. shopping center vacancy rate
  • 5.5%
  • U.S. region with the lowest average monthly asking rent for shopping center real estate
  • Midwest
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Current statistics on this topic

Malls & Shopping Centers

United States: largest shopping malls 2024/25, by GLA

Malls & Shopping Centers

United States: top malls owned by Simon Property Group 2024, by GLA

Retail

Retail real estate occupancy rates in the U.S. 2024, by type

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Overview

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Overview

Simon Property shopping centers

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Simon Property shopping centers

Brookfield Properties and Kimco Realty shopping centers

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Brookfield Properties and Kimco Realty shopping centers

SITE and Macerich shopping centers

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SITE and Macerich shopping centers

CBL Properties and Unibail Rodamco Westfield shopping centers

6

CBL Properties and Unibail Rodamco Westfield shopping centers

Consumer behavior

5

Consumer behavior

Further reports

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Online shopping behavior in the United States
Online shopping behavior in the United States
Shopping centers in the United Kingdom (UK)
Shopping centers in the United Kingdom (UK)
Retail market in the United States
Retail market in the United States
Retail real estate market in the United States
Retail real estate market in the United States
Retail theft in the United States
Retail theft in the United States
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