Retail capacity was catastrophically overbuilt prior to 2008. After the near nuclear meltdown of the Financial sector due to the popping of the fraudulent housing bubble, I went to Las Vegas for a party. 2 out of every 5 storefronts were vacant and for lease. It was unreal.
Starbucks made a wise choice closing half their stores.
Add to this the digital revolution in shopping, and no wonder there is so much brick-and-mortar retail square footage available at bargain basement rates. You still see empty store fronts everywhere 10 years after the housing bubble popped.
It should be converted into affordable housing for millennials.