Canadian company The Hudson’s Bay Co. (HBC) is considering transforming a former Lord & Taylor store into a massive coworking space.
Last year, the department store filed for bankruptcy and shuttered three Connecticut stores. However, HBC is looking to potentially convert Lord & Taylor’s former Westfarms Shopping Mall location into 121,000 square feet of coworking space.
While there are no concrete plans as of yet, this consideration highlights how real estate is adjusting its attitude towards flexible workspaces and the use of shopping centres in a post-pandemic society.
“Nothing is imminent,” said Michael Puzzo, a senior vice president at CBRE Group Inc. that is also marketing the space. “This was pre-pandemic so the timing didn’t work out well.”
Puzzo added that although the former Lord & Taylor space could primarily be used as an office, the emergence of multi-purpose spaces that include retail, fitness facilities and more could be possible.
