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The now-empty Landmark Mall, Alexandria, Virginia. Photo: Mark Wilson/Getty

In a twist of the knife, developers are turning defunct malls and failed big-box stores into warehouses — for e-commerce businesses, among other uses.

What's happening: Since 2016, 7.9 million square feet of U.S. retail space has been turned into warehouses, according to a new analysis from CBRE, the research firm. These redevelopment projects span the country, impacting cities in every region. But, per the report, they are especially prevalent in lower-income areas.

  • As we've reported, retail options are vanishing disproportionately in poorer parts of the country.

"We’ve got a recession coming, and that’s likely to further widen that gap," says Ellen Dunham-Jones, a Georgia Tech professor who tracks obsolete malls. "I expect we’re going to see more malls and strip malls go under."

The big picture: At 28 square feet per capita, the U.S. has 20 times more mall space than the world average, and the repurposing of dead malls goes beyond warehouses. Of the 1,000 or so malls open today, around a quarter are at risk of shuttering in the next five years, per Credit Suisse's analysis.

  • These old structures are turning into community college campuses and doctor's offices, and even Amazon is reportedly looking at turning old Sears stores into Whole Foods outlets. Amazon did not immediately respond to emails seeking comment.

Go deeper: Read the Axios special report on the future of retail

Go deeper

Virginia energy giant quietly boosts McAuliffe

Former Virginia Gov. Terry McAuliffe speaks during a campaign rally on Oct. 15 in Henrico, Virginia. Photo: Win McNamee/Getty Images

Virginia Democrat Terry McAuliffe has sworn off money from the Richmond company Dominion Energy. But the utility has found more subtle ways to back McAuliffe's gubernatorial bid, records show.

Driving the news: Dominion's political action committee has donated $200,000 to a murky political group called Accountability Virginia PAC, which has been running ads attacking Republican candidate Glenn Youngkin.

1 hour ago - Technology

Race and technology in America

Illustration: Annelise Capossela/Axios

The technology industry is famously determined to change the world — but its efforts to diversify its workforce and remove bias from its products haven't changed nearly enough.

Biden: "Being a cop today is one hell of a lot harder than it's ever been"

President Biden speaks during the 40th Annual National Peace Officers Memorial Service at the U.S Capitolon Oct. 16. Photo: Brendan Smialowski/AFP via Getty Images

President Biden speaking at the U.S. Capitol on Saturday honored members of law enforcement who died in the line of duty in 2019 and 2021 and saluted those who are currently serving.

Driving the news: "We expect everything of you, and it's beyond the capacity of anyone to meet the total expectations. Being a cop today is one hell of a lot harder than it's ever been," Biden said.