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Wal-Mart Strikes Out In New York Again

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The world's largest retailer was once again forced to beat a retreat in New York City, where it's been trying for years to open a store. Last year, it seemed possible the discount giant might finally enter the market by anchoring Related Companies' shopping center project in East New York, Brooklyn. But according to a report from Reuters, the retailer wasn't able to reach a deal on the site.

The space that Wal-Mart was eyeing will be taken by a ShopRite supermarket instead.

In a statement, Wal-Mart executives said they will continue to pursue a store in New York City:

"We remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most," Steven Restivo, Wal-Mart's senior director of community affairs, said in the statement.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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