Why Amazon and Walmart Suddenly Like Malls
SMRTR summary
Walmart purchased Monroeville Mall near Pittsburgh for $34 million, planning to redevelop the 985,073-square-foot property for retail and mixed-use. This acquisition follows a trend of repurposing malls, with Amazon converting about 25 malls into distribution centers between 2016 and 2019, as traditional shopping centers face declining foot traffic and increased competition from eCommerce.
SMRTR provides this summary for quick context. The original article belongs to PYMNTS.
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