Amazon and Mall Operator Look at Turning Sears, J.C. Penney Stores Into Fulfillment Centers
https://www.wsj.com/articles/amazon-and-giant-mall-operator-look-at-turning-sears-j-c-penney-stores-into-fulfillment-centers-11596992863
'To replace department stores, mall owners considered schools, medical offices and senior living. With the current pandemic, industrial is the only thing left now.'
Vastly different real estate moonscape, isn't it?
YEPPERS
The only thing left worth investing in is residential.
Even then you must watch out for RENT CONTROLS and other Marxist ideas like rezoning.
Retail Chains Abandon Manhattan: 'It's Unsustainable' - The New York Times
https://www.nytimes.com/2020/08/11/nyregion/nyc-economy-chain-stores.html
Macy's Will Close and Sell Its Downtown Seattle Store
https://www.fool.com/investing/2019/10/03/macys-will-close-and-sell-its-downtown-seattle-sto.aspx
Stores nearby also close
After Chicago Looting and Coronavirus, Businesses Consider Closing Shop
https://www.wsj.com/articles/after-chicago-looting-and-coronavirus-businesses-consider-closing-shop-11597180484
Early in a new trend?
REI to sell newly-completed Bellevue campus, open satellite headquarters around Seattle
https://komonews.com/news/local/rei-to-sell-newly-completed-bellevue-campus-open-satellite-headquarters-around-seattle
>>Early in a new trend?
I could definitely see this as a trend. Rather than one big headquarters have 15-20 smaller neighborhood offices around a city available for employees to use when they need to get out of the house, have client meetings, etc.. Although I love working from home it would be nice to have somewhere to go a day or two a week to get out of the house.