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Mr. Soleimani declined to reveal his hire, but said he had a two-year lease with an option to stay for five years. He added that he had deliberate to open stores this yr in Chicago, Houston and Miami. He discovered that some rents had declined through the pandemic, however that these discounts have been unavailable within the places he sought. Ms. Barboni Hallik is not alone among e-commerce entrepreneurs who’re turning to bodily stores. Many retailers ramped up their e-commerce efforts whereas Americans have been stuck at residence throughout lockdowns, however for others, the pandemic presented new real estate opportunities. Ms. Barboni Hallik, a former Morgan Stanley managing director, targeted on Greenwich Village, a robust residential Manhattan neighborhood that had a surfeit of storefront vacancies even before the pandemic.

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