New Jersey 101.5 / nj1015.com
According to real estate expert Jeff Otteau, president of the Otteau Valuation Group, this is happening for a couple of reasons. When a major retail store wants to establish a presence in a local market, they’ll make a deal with a developer to build a new strip mall, “and then for the developer, the filling in of the additional space in that center really becomes a process of cannibalizing other centers.”
