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Marc Stiles Real Estate Editor |
September 2, 2010
Costco co-founder and President Jeff Brotman says not to read too much into a Wall Street Journal story last week about how Issaquah-based Costco is looking at mall space.
The story was precipitated by The Westfield Group's announcement that Costco will be the anchor tenant at one of its West Coast malls and is taking space at two others on the East Coast. The Journal cited a Credit Suisse retail analyst, who said the moves are representative of a longer term trend where mall owners who are losing department stores will look to Costco and other “high-traffic formats as valuable anchors.”
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