Innovative Retailers Adapt Amidst Closures and Downsizing

Pullman & Comley Property Tax and Valuation attorney Laura B. Cardillo, in an article for the New England Real Estate Journal (NEREJ), discusses the ongoing trend of retail closures across Southern New England, which is likely to continue into 2025. However, she emphasizes that the so-called “retail apocalypse” is only part of the story. Laura highlights the resilience and adaptation within the industry, noting, “In many big box spaces long-since vacated by their original occupant, we are seeing second- and third-generation tenants that are using the spaces in creative ways. Some tenants are selling physical goods, but others are offering entertainment experiences such as bowling alleys, trampoline parks, axe throwing, and escape rooms.” This innovative repurposing underscores the industry’s ability to evolve in response to changing consumer demands.

To read the full article, please visit the NEREJ website.