James P. Cozza – Vice President
May 2019

From former grocery stores to sports parks to big box retail outlets, real estate owners are finding innovative and new ways to repurpose vacant space. Recently, owners have seen non-traditional office uses, lifestyle/entertainment outlets, and medical offices take over these vacant spaces. The driving factor behind all of this – online consumer spending. Over the last five years stores such as JC Penny, Sears and Macy’s have all seen a significant decrease in retail spending and as a result, have been closing doors and downsizing across their entire portfolios.