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A sprawling Maryland Mallonce filled with large retail stores, is rapidly losing tenants.
Over the past month, several tenants have announced plans to leave downtown Towson, which has been struggling with growing crime problems. In November, four teenagers were arrested after a robbery and stabbing 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 strain wallets, helping to reduce foot traffic.
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Last month, Wockenfuss Candies said it had “made the difficult decision to permanently close this establishment, effective immediately”.
Gap-owned Banana Republic, Tommy Bahama and J.Crew’s Madewell have also left or are considering leaving the mall, according to multiple reports.
An exterior view of the Towson Town Center shopping center on June 20, 2022, in Towson, Maryland. (Chip Somodevilla/Getty Images)
This comes after the mall already lost a Crate & Barrel anchor store and restaurants like the Rainforest Café, according to reports.
Traditional shopping centers were once bustling shopping centersbut their popularity began to decline before the COVID-19 pandemic, as Amazon and online retail began phasing out sales from physical stores. The pandemic then accelerated this decline, with lockdown measures preventing people from shopping in person. Economic pressures from inflation have made the situation worse, with households tightening their budgets and spending less on discretionary items.
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The San Francisco Center in California is another mall that has been plagued by a sharp rise in vacancies and a series of departures of major retailers. Shake Shack, which confirmed it was leaving the mall last month, told FOX Business the mall had been sold to a new owner who was forcing all tenants to vacate the premises.
The Apple Store at Towson Town Center shopping center on May 10, 2024, in Towson, Maryland. (Andrew Harnik/Getty Images)
Between 2020 and 2023, the mall lost 46% of its stores, the San Francisco Standard reported. This includes its flagship department store, Nordstrom, which announced in 2023 the closure of its two downtown San Francisco locations, including its flagship store located at Westfield San Francisco Center. The mall’s other anchor tenant, Bloomingdale’s, left in early 2025.
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In recent months, at least six restaurants have left the mall, including sandwich shop Jamba Juice, Izzy & Wooks and taco shop Mija Cochinita, according to the San Fransisco Chronicle.
Shoppers inside the Westfield San Francisco Center shopping mall in San Francisco, California on June 13, 2023. (David Paul Morris/Bloomberg via Getty Images)
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However, there are significant barriers to converting commercial properties to residential use, particularly regarding local zoning laws and construction costs.
