Several mall owners and retailers have reported strong growth over the last quarter, as the era of the "standard 80s-style mall" comes to an end and a new model of malls functioning as a town center comes into vogue. 

A new retail market outlook from JLL looks bright (for some companies, at least), and a winner seems to be Simon Property Group, which inked 1,100 leases totaling 4.4 million square feet in the first quarter. SPG's leasing volume exceeded the same periods in 2019 and 2020. Active retailers include American Eagle, Levi's, Urban Outfitters as well luxury retailers Prada and Louis Vuitton and clicks- to-bricks retailer Warby Parker.

In keeping with the mall-as-town-center trend, SPG is also converting part of a vacant Sears in Burlington, Mass., into an upscale dining hall to include Fogo de Chão, Parm, Bennett's Sandwich Shop and Shake Shack. The location is slated to open this fall.