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.
“ E – c o m m e r c e w a s 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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