CHARLOTTE, N.C. — Plans for a $50 million expansion to add another 200,000 square feet of retail space at NorthLake Mall in Charlotte have been put on hold.
Dr. Richard Buttimer, co-director of the Childress Cline Center for Real Estate at UNC-Charlotte said retail real estate is changing.
"There are far fewer new malls opening right now than there have been probably in the last 30 years," Buttimer said.
Online shopping is a result of that.
Last year online sales increased by 18 percent.
"Retailers of all stripes are trying to figure out what's the right mix of brick-and-mortar stores and online presence," Buttimer said.
He said that malls won't go away but will probably rely more on restaurants and hotels to fill space.
Read more top trending stories on wsoctv.com:
- Police say Union County bus driver threatened to shoot up middle school
- Police think alcohol played role in violent crash that left man dead
- Ex-NASCAR truck driver arrested on charge of attempted enticement of minor
- WATCH: Keith Monday's Monday forecast outlook
- 4 arrested, 13 guns seized from Epicenter parking deck, police say