NYC retail real estate developers reverse course

New York City's retail landlords spent significant sums to amass smaller shop spaces that could be transformed into big-box retailers, but current trends toward online shopping and smaller stores have them reversing course. The city has lost 13 big-box stores in recent years, and landlords are turning many of the spaces back into smaller shops. "Everybody in some way shape or format is reducing their footprint," says Cushman & Wakefield's Gene Spiegelman.

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Scaling Down Retail Space - Wall Street Journal, The

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