*By Justin Chermol*
The latest sign of the growing impact of e-commerce on brick-and-mortar stores? Mall vacancies have hit their highest level since 2012 and are closing in on all-time records.
Shopping centers saw 8.6 percent of their retail space unoccupied in the second quarter, up from 8.4 percent at the start of the year, according to research released by real-estate data firm Reis on Tuesday. The vacancy rate peaked at 9.4 percent in 2011.
Strip malls and local shopping centers are suffering the most, with more than a tenth of their space vacant. Occupants abandoned nearly 3.8 million square feet of property in the space between April and June.
The latest report comes days after now-bankrupt Toys ‘R’ Us closed its last U.S. locations on Friday. One-time retail giants such as Macy’s, Sears, JCPenney, and Bon-Ton have also closed dozens of locations nationwide.
And the trend towards online shopping affects more than just the retail industry. Local governments are seeing lower tax revenues as jobs are lost and spending decreases. And property owners are looking for alternatives for their spaces, with [some landlords](https://www.wsj.com/articles/malls-never-wanted-gyms-now-they-court-them-1511697600?mod=article_inline) converting former stores into call centers, gyms, or even churches.
But brick-and-mortar may not be totally dead. E-commerce giants like Amazon are actually opening physical locations. The company is [reportedly](https://www.geekwire.com/2018/revealed-amazon-gos-new-seattle-location-signals-tech-giants-growing-ambitions-checkout-free-retail-concept/) getting ready to launch its second cashier-less Amazon Go store in Seattle this fall.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
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