Successful mall owners are embracing new technologies in their tenants’ stores and in the common areas at their properties, says Westfield Co-CEO Steven M. Lowy.

"Consumers today expect to be very, very well-serviced — with technology,"  Lowy told CNBC. "They wake up every day with that expectation, and it's essential that the retailing industry really adapts and evolves ... so it can compete better. They need technology for financial payments. They need technology for visual merchandising. ... Digital companies today pretty much understand the shopper before they even make a purchase. Physical companies have no idea what the customer is doing before they make a purchase."

Unibail-Rodamco has agreed to buy Westfield for roughly $15.8 billion, and when that deal is finalized, Lowy will head the company's real estate technology incubator, called OneMarket. "The purpose and vision of that entity," said Lowy, "is really to create a global network and platform to connect retailers, brands, venue partners ... and, of course, technology partners."