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Greenwich investor sees upside after $40M Blue Back Square bargain buy

Greenwich investor sees upside after $40M Blue Back Square bargain buy
hartfordbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hartfordbusiness.com Daily Mail and Mail on Sunday newspapers.

With high occupancy rate and new, exclusive tenants, Westfarms mall counteracts retail s brick-and-mortar struggles

When the pandemic hit last March and online retail purchases began to soar, some experts left brick-and-mortar retail for dead. Indeed, numerous major national brands including J.C. Penney, Neiman Marcus and the parent companies of Ann Taylor and Men’s Wearhouse filed for bankruptcy and closed a significant number of stores. Amid that backdrop, U.S. malls have also taken a beating, but Westfarms in West Hartford seems to be an outlier. In fact, the 1.3 million-square-foot mall’s occupancy rate prior to and throughout the pandemic has remained at 95% and it was even able to add new retailers over the last year, despite being forced to close for two months in the spring of 2020.

To stay afloat, CT malls are looking to fill large, empty retail spaces with apartments, condominiums and offices

To stay afloat, CT malls are looking to fill large, empty retail spaces with apartments, condominiums and offices
milfordmirror.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from milfordmirror.com Daily Mail and Mail on Sunday newspapers.

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