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MADISON- Some urban and suburban centers have been revitalized through redevelopment that adds convenience, but this approach may not be successful in small markets in Wisconsin, where troubled centers are finding it increasingly difficult to regenerate.
Brookfield Square, in the suburbs of Milwaukee, will have a movie tavern and a meeting place for Whirlyball games by the end of the year, reported Wisconsin Public Radio. The mall is experiencing difficulties since the departure of Sears anchor stores and Boston Store in 2018.
"Consumers are starting to look for more entertainment and retail products that are experiential," said Stacey Keating, spokesperson for CBL Properties of Chattanooga, Tenn., Owner of Brookfield Square.
Urban centers and suburbs are likely to rebound, while rural centers will continue to struggle, said Garrick Brown, a national retail researcher at Cushman & Wakefield, a real estate services company. The addition of housing or medical centers can help make the places viable.
"It's really what the rest of the world has done in malls, mainly because their savings have always been a bit uncertain and you have to protect your bet," Brown said. "I think that in the future, it's the safest bet."
Wausau Mayor Robert Mielke said he would like to see the Wausau Center shopping center transformed into a mixed-use development with housing and offices as well as retail stores. Plans to add a movie theater to the property failed in 2017.
"It's still a special building, but like many other communities, we're trying to find a way to reuse it," said Mielke. "For the moment, we are waiting to see what Florida owners will do."
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