A retail evolution solution: the age of the mall isn't over-it's just changing.

• Author: Felix, Devin

In the world of regional shopping malls, the only constant is change. Shifts in customers' habits and expectations, the rise of online shopping and dozens of other factors combine to create an environment where malls and the retailers inside them need to adapt or suffer the consequences.

"Many retailers that haven't evolved as rapidly as the market have either downsized or shut their doors," says Cameron Simonsen, a CBC Advisors retail specialist. "This has created a unique obstacle for owners of many of the regional malls throughout the country, with many anchor tenants closing their doors."

The retail world is challenging, but those challenges also present opportunities to adapt and grow. In the current retail landscape, malls are changing to become more than just places to shop. Utah's mall landscape has been in flux over the past several years, with big changes like the opening and success of City Creek Center in downtown Salt Lake causing ripples that have reached other malls nearby. The market will continue to evolve, and malls that can evolve along with it will be the ones that thrive.

Some see malls as a relic of past decades, says Richard Coles, CSM, CRX, an associate broker and vice president with CBC Advisors. But the efforts of owners and brokers in Utah over the past few years have shown that the day of the shopping mall isn't over--it just looks different than it used to.

THE MALL, REDEFINED

The age of malls in America started in the late '60s and early 70s, as new locations started to pop up around the country. By the 1980s, Utah had multiple thriving malls across the state.

In the '90s, the face of the mall began to change. Movie theaters and restaurants started showing up in more and more malls. In the early 2000s, movie theaters got bigger, and the idea of the open-air "lifestyle center" gained favor over the enclosed mall format of previous decades.

In the 2010s, the trend toward malls as centers of entertainment has continued. Malls have begun to include ice rinks, climbing walls, museums, arcades and other activities designed to attract people who are looking to have fun. Mall designers have also begun to incorporate office space, residences, hotels and other amenities. All of these amenities are designed to bring people to the mall, adding foot traffic, which is crucial for increasing sales.

"The mall experience isn't going away," Simonsen says. "Now it's more than just buying merchandise. It's about an overall...