By Elaine Misonzhnik, Senior Associate Editor
Retail property owners in the Northeast seem to have fared better in the eye of the storm than their counterparts in other commercial property sectors, with loss of power being the most serious problem reported by the companies interviewed for this article.
New Jersey’s Bergen County and Long Island, in particular, serve as
homes to some of the largest and most productive malls in the country,
including Westfield Garden State Plaza in Paramus, N.J.; Roosevelt Field
in Garden City, N.Y. and Palisades Center in West Nyack, N.Y., among
others. As of Wednesday, most of these properties were operational.
“We really escaped and dodged a big bullet here,” says Michael
McAvinue, general manager at The Mall at Short Hills, a Taubman
Centers-owned, 1.37-million-sq.-ft. center located in Millburn, N.J.
“The damage could have been a lot worse.” …Read the complete article