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Commercial real estate broker Austin Monteiro said, "A lot of it depends on the market or if you’re in a city or a suburb."
“We’ve been fortunate in that developers are still moving ahead with their projects, and more people are looking to locate to our town," says Economic and Community Development Director Rina Bakalar.
Owned by Brookfield Property Partners and managed by Brookfield Properties, the mall opened at a time when the so-called brick-and-mortar “retail apocalypse” had yet to feel the COVID brunt. According to research firm Reis, shopping center vacancies at the end of 2019 were their highest in 20 years, at 9.7%.
Large malls in New York will have to upgrade their air conditioning systems with filters that can remove the COVID-19 virus from the air...
Chief Marketing Officer Jen Porter said the company believes the Norwalk mall "is perfectly positioned to become the go-to center for home décor in Fairfield County."
Taubman stated the termination announcement was "invalid and without merit."
The Westfield Trumbull and Danbury Fair Mall also expect to open on the 20th, while Norwalk's SoNo Collection is reportedly readying itself to do so as well.
Even as the area anxiously awaits the much-hyped opening of the SoNo Collection megamall in Norwalk, there are conflicting signs about just how healthy the shopping mall sector is.
The 700,000-square-foot SoNo Collection mall in Norwalk opens in October 2019, but its impact is already being felt in the region.