NEW YORK CITY – Talks about a slowdown in commercial real estate have been constant. However, developers and retail landlords are steadily rolling out projects to create value, while also thinking about storing cash in the long-term.

“There’s been a consistent flow of projects because people are ready to weather the storm this time,” Rob Budetti, partner at AO Architects, specializing in commercial, retail, hospitality and mixed-use, tells “They are storing away cash and will be ready to do projects.”

In the retail sector, there has been the repositioning of mixed-use projects, such as the commercial consolidation of large retailers such as Sears, Macy’s and JC Penny to maximize usage and create new value, according to Budetti.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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