Wednesday, November 29, 2017

Future of malls could include residential development, execs say

Image result for malls with residentialMalls and shopping centers beleaguered by dwindling foot traffic could look “tremendously different” in 10 years, incorporating residential and other uses, a real estate executive said Tuesday.

Joshua Weinkranz, Northeast region president at New Hyde Park-based Kimco Realty Corp., which owns more than 500 shopping centers including 30 on Long Island, said some brick-and-mortar operations like Walmart are finding ways to incorporate online offerings into their physical store locations, allowing them “to stay relevant” amid competition from e-commerce companies like Amazon.. . . more

No comments: