Millennials may have fled the malls, but brick-and-mortar retail is apparently more appealing to Generation Z.

People born between 1997 and 2010, particularly the teens in that group, are becoming big spenders, and they like to do a lot of that spending in actual stores, according to new research from commercial real estate firm CBRE.

Generation Z's spending is now at approximately $143 billion per year, and they influence an additional $450.5 billion in spending by others, according to CBRE's report, which uses data from eMarketer. While Generation Z spends a great deal of time online making purchasing decisions, 81% of them prefer to go to stores.

"They are huge fans of what's known as click and collect, meaning they click online, and they like to pick it up in the store so they can get the tangible experience, they can get the social experience, and then the key is that they are buying more. People buy up to 70% more goods when they walk back into the store, than if they just buy it online" said Spencer Levy, chairman of Americas research at CBRE.

While most teenagers are obsessed with their phones, they are also more native to technology and e-commerce than any other generation, and are therefore more open to other options.

"The teenagers prior, the millennials, had a world where they were doing both, in-store shopping and then they saw the new phones, and they shifted more towards that. The Gen Zers grew up in a world with both, and they liked both at the same time not one or the other, but both," Levy added.

Mall REITs, which own some of the most well-located and highly trafficked retail properties in the nation, are therefore changing their business models.

"While most of the discussion lately has been about the impact of online shopping on bricks-and-mortar stores, the mall REITs have adapted their strategies to the new consumer shopping patterns," said Calvin Schnure, senior vice president, research and economic analysis at Nareit. "This includes more tenants that provide experiences like exercise clubs, restaurants and bars, that keep shoppers coming back. Many REITs have also upgraded their malls to keep a fresh new feel for the space."