AFTER years of worrying that e-commerce would decimate bricks-and-mortar stores, US retail landlords now say the sector is stronger and more insulated from online competitors than even a few years ago, reported The Wall Street Journal (WSJ) on Monday.
“A sharp slowdown in retail construction is driving vacancy to near-record lows. While Americans stayed home during the height of the pandemic, they flocked back to stores and restaurants as infection concerns faded,” said the report.
thought of as this existential threat,” said Jahan Moslehi, chief executive of the real-estate investment firm Bridge33 Capital, which has spent US$574 million acquiring 13 shopping centres this year. “In the past few years, we’ve seen this resilience of bricksand-mortar retail.”
— Xinhua
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