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Local Governments Move In On Retail Vacancies

PYMNTS

Many municipalities are looking to help by proposing new uses for vacant retail sites, including a citywide initiative in Fairfax, Virginia called Activate Fairfax , where the Department of Economic Initiative is soliciting requests for interest in an abandoned Container Store location. Even smaller cities are opting for such taxes.

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Mall Chain Owner Considering Selling Off Its Malls

PYMNTS

Forest City Realty Trust owns 14 regional malls throughout the country and 19 specialty retail centers, which are mostly located in New York City, like the East River Plaza near the FDR Drive at 116th Street.

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