Online shopping doesn’t have to be bad news for brick-and-mortar retail, Brixmor Property Group CEO James Taylor told CNBC’s Jim Cramer on Thursday.
That is why the real estate investment trust, which operates open-air shopping malls across the country, has turned some of its prime space — close parking spots — into places for people who ordered online but want to pick up in store, Taylor said.
“We dedicate a few parking spaces, right out in front of the store,” Taylor said on “Mad Money.” “The retailers who get it, who really understand how their customer wants to be served, do a great job at it, and they’re seeing growth in their sales through it. Whether it is Kroger, Walmart, many others.”
Taylor said this concept translates really well to the kind of centers that his company has — more so than traditional shopping malls.
“It works in the open-air center,” he argued.
Brixmor Property Group, which is based in New York City, has more than 400 open-air shopping centers in its…
