MIAMI—The mall is dead—long live the mall? NorthAmerican Properties (NAP) just pushed out the second in aSlideShare series that explores the future ofretailing.

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In this installment, the firm explores the decline ofmalls. What's driving the decline? According to NAP, malls aregiving way to hot retail and restaurant conceptsin urban mixed-use locations with strong walkability.

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“Nationally, consumers are shifting away from traditional mallsand seeking a unique experience,” says Mark Toro,managing partner at NAP. “As a developer, it's important to createa sense of community and offer a property with a walkable designthat infuses hospitality into every aspect. This is what thenew-class of consumer is demanding and retailers arelistening.”

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Need proof that retailers are moving away from malls? NAP offerssome evidence in the form of its Avalon in Alpharetta, GA.

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The retail complex has attracted more than 10first-to-market retailers and restaurants such as Kendra Scott,Soft Surroundings, Lou & Grey, and The El Felix. Majorretailers like Banana Republic, Gap, and J. Crew are alsorelocating to the $600 million mixed-use development opening inOctober.

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The SlideShare presentation connects the rise of about 80million 18- to 35-year olds of the Gen Y population to the over 400malls that were repurposed or closed outright in the last decade.It also provides insight on how this has influenced topretail industry leaders' decisions to choosemixed-use developments.

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