While the “retail apocalypse” became a common chorus pre-pandemic due to the dominance of Amazon.com Inc.-led e-commerce — a phenomenon which only accelerated in the San Fernando and Santa Clarita Valleys in 2020 during lockdown — one high-powered broker said that store spaces and properties are giving way to other types of tenants and usages.
In a conversation with the Business Journal, Cheri Blessing, principal of Calabasas-based Lee & Associates- LA North/Ventura Inc., said that she sees trends in the way malls are shifting to recover and prosper. Among the narratives unfolding in the past nine months: A rise of experiential retail concepts such as axe-throwing, escape rooms and trampoline fun zones; grocery stores driving repeat foot traffic; and most significantly, mixed-use and multifamily replacing big box stores.  ...

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