Las Vegas, NV – This year is shaping up to be busy for local retail professionals, as malls fill in empty spaces vacated by stores that didn’t survive the recession and developers resume work on stalled projects.
International Council of Shopping Centers spokesman Jesse Tron said recently that retailers and shopping centers are adapting to a new normal in the post recession.
“It’s now more about value creation and asset management than growing portfolios. It’s about having the most productive store or shopping center that we can have,” Tron said. “Centers nationwide are adding retailers, but not generally building new shopping centers, which is controlling the vacancy issue.”
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