The New Normal

What is the “new normal”? The “new normal” is when there is a change or disruption that appears to be permanent.   Every day we wake up to news that another retailer that has been around for decades is the delaring bankruptcy.   The disruption that is taking place is revolutionary.   Brokers developers and all real estate professionals need to look at their business models so they that will not be negatively affected and on the other hand make money in the “new normal”. Munciplaities and governing bodies that are dependent on sales tax generated by major malls and real estate taxes paid by the properties will need to adjust to the changing environment and help subsidize the redevelopment of these properties. Throughout the country the shopping mall is the center of town. In many cases all commerce and shopping occur in the proximity to the mall.  Should the mall close, this could have a major impact on the town and local businesses.  Fortunes will be lost and fortunes will be made from the smart money  that knows how to reposition such properties.  It is now time to think out-of-the-box and instead of adjusting to the “new normal”, take the initiative and create the “new normal”.