The Tenant Mix Evolution: 2020 vs. 2026
Retail tenant mix has undergone a permanent reset. Apparel and general merchandise — once anchors of the American shopping center — have collapsed to below 25% of composition. Healthcare tenants now occupy 15–20% of well-positioned properties, while dining and entertainment drive 30–35% of successful centers. The owners winning in 2026 started repositioning three years ago.

