Retail Expert Corey Bialow of Bialow Real Estate joined Stephen Vazza on this week's Real Estate 360!
Vazza and Bialow take a look into the retail sector in Boston and on a national level. Amazon has certainly had its impact on the retail space as it continues to change consumer behavior.
"In areas like Boston, retail seems to be booming," says Bialow. "But in second tier markets, that's where we really see retail being disrupted. Obviously Amazon is having a tremendous impact throughout the whole industry."
Corey highlights how the biggest malls in the country have done a great job at redefining themselves in a challenging market. However, lower tier malls have taken a dramatic hit as Amazon puts a stranglehold on some of the big box retailers.
"You're seeing Amazon take hold across every category," says Bialow. "Office supply, pet stores, you're seeing constant disruption.You're going to see 20-25% of the traditional malls try to repurpose itself.We were over-retailed."