“Struggling retailer sees opportunities to improve shopping experience by activating empty parking lots.
As the images of empty parking lots during Black Friday have demonstrated, commercial real estate professionals are slowly warming to the idea that we have far too much parking than is needed- diminishing municipal tax bases and taking away the ability to lease space within struggling shopping centers. Big box retailer Macy’s has announced their intention to create new revenue streams by reimagining acres of unused parking lots- a strategy used by tactical urbanists in places like Nashville, Indianapolis and Miami.”