
Online shopping continues to transform retail and is reshaping the real estate market as well. Retailers used to house merchandise in department stores with many floors above the street level. In most cases, this was without office space. Now there is a shift, evidenced by real estate investors seeking to have a more mixed-use space. In Manhattan, this trend to edge out retail for offices is becoming more prevalent. Normandy Real Estate recently invested $133 million to convert several floors…