Westfield blasted for bungling leasing at Fulton Center where storefronts remain vacant

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Westfield Corporation, which wants out of its Fulton Center lease with the MTA, is probably right that crime and poor security are chasing out some retail tenants.

But it’s also true that the subway station’s doughnut-domed “shopping” atrium at Broadway and Fulton Street has been a flop since it opened in 2014, long before the Covid-era uptick in crime.

Parent company Unibail-Rodamco-Westfield said in 2022 that it planned to unload most or all of its US shopping centers. The Fulton fiasco would fit right in with that strategy.

Retail brokers who didn’t want to be named blamed Westfield for bungling store leasing at Fulton since the get-go — as it has on a larger scale at the World Trade Center, where it owns the retail space in the Oculus and office towers where oodles of storefronts remain vacant.

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Westfield blasted for bungling leasing at Fulton Center where storefronts remain vacant

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Westfield Corporation, which wants out of its Fulton Center lease with the MTA, is probably right that crime and poor security are chasing out some retail tenants.

But it’s also true that the subway station’s doughnut-domed “shopping” atrium at Broadway and Fulton Street has been a flop since it opened in 2014, long before the Covid-era uptick in crime.

Parent company Unibail-Rodamco-Westfield said in 2022 that it planned to unload most or all of its US shopping centers. The Fulton fiasco would fit right in with that strategy.

Retail brokers who didn’t want to be named blamed Westfield for bungling store leasing at Fulton since the get-go — as it has on a larger scale at the World Trade Center, where it owns the retail space in the Oculus and office towers where oodles of storefronts remain vacant.