Has America built its last major mall?

The Mall at University Town Center in Sarasota, Fla., opened three years ago./PHOTO: PR NEWSWIRE

By Esther Fung | The Wall Street Journal

It has been three years since a major new shopping mall opened in the U.S. Despite some early success, the project could be the last of its kind.

Luxury mall operator Taubman Centers Inc. TCO 1.07% constructed the 862,000-square-foot Mall at University Town Center in Sarasota, Fla., after years of planning and a number of studies showed the region was underserved by retail and would continue to enjoy population growth.

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