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"I've had clients buying properties sight unseen for cash" because of their rush to leave New York City, said one member of the Greater Norwalk Chamber of Commerce's "Real Estate Outlook" panel.
Furniture chain EQ3 is the latest newcomer to Norwalk’s SoNo Collection. The Winnipeg-based retailer’s fifth U.S. store, EQ3 offers furniture and home décor products, including...
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%.
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."
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.
"We will constantly be experimenting with new categories, updating the assortment frequently, and responding to customer feedback," Amazon executive Drew Sheriff tells the Business Journal.
Taubman Centers, the real estate investment trust that owns the 853,000-square-foot facility at 100 Greyrock Place, announced in October that it was putting the mall up for sale.
Apple also has local retail outlets at Danbury Fair, the Westfield Trumbull mall, the Stamford Town Center mall, and in Greenwich.
"Business has been literally mind-blowing so far," says general manager Shelley Steinberg. "Within the first six days I lost count of how many people said they were already back for the fourth or fifth time.”
While the county's commercial space vacancy stands at 26.7% -- and is expected to drop to 23.5% next year -- that still compares unfavorably with the nationwide rate of 12.2%.
"More people are starting to take notice of who we are and what we have to offer," says Harry Rilling, recently elected to his fourth term as mayor. "We’ve got it all.”