Burlington village returns with a twist
The shopping center has been demolished now. You know these days e-commerce is getting stronger and stronger and while all these businesses like amazon.com, best buy, and Kmart are investing heavily in online platforms, the shopping centers are being converted into homes. Big shift in where people are spending money has shifted these malls into residentials. Others are vandalized.
And what is more amazing is that these are renovated to high-quality apartments and sometimes houses with pool.
Some of the malls are being converted into nonretail space like storage or bowling alleys or offices
This is being done time and again and shopping center owners are making big money out of these. It makes more sense to them then to leave the shops empty without occupants where they were losing a ton of money.
Now they have a new business model where these shopping centers are in holiday areas, they are converting them into holiday apartments. One such company that is converting property into residential real estate is Classi Gozo Property.
Rental income is making these owners rich. Good luck to them. Are shopping centers dead?
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