The Week In News, But Shorter
February 23 – March 1, 2026

A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum

We’ve spent a lot of time recently talking about digital infrastructure, so this week we’re pivoting back to physical infrastructure. While the “demise of the department store” might be a bit overblown with the news on Bloomingdale’s below, but also conversely with Saks, the reality is that department stores aren’t the anchor tenants they once were. We’ve covered in these newsletters over the years as unique anchor stand-ins have popped up, and this week, a few new options made their way to headlines: private clubs, surf parks, and even recycling centers. Years ago these types of tenants would be seen as a total anomaly, but as malls work to make their centers focused on experience increasing the number of trips and dwell time, nothing is out of the question these days. Are you experimenting with unconventional anchors? If so, we want to hear about it over on our LinkedIn page.

Don’t worry, we also paid attention to the digital headlines this week, taking note of how Nordstrom is strategically implementing AI, a new offering that brings AI to merchandising, and new AI search/shop tools coming to yet another social platform.

Digital Meets Physical

Nordstrom’s AI Effort Is Focused on the Basics [AIM] At Manifest 2026 in Las Vegas, Nordstrom’s chief procurement officer described how artificial intelligence is being used inside the company’s sourcing systems.

Consumers increasingly use AI agents; mistrust remains [Chain Store Age] Rapid growth is occurring in consumers shopping with artificial intelligence agents, but it doesn’t mean full trust exists. While only 19% of consumers currently use AI agents for brand interactions, that number is expected to jump to 46% by the end of 2026. Gen Z consumers are most open to agent-led commerce as 64% already feel brands are maintaining a human touch with AI.

Radar Launches New Competencies For Brick-And-Mortar Retailers [Forbes] Radar is expanding its Radar + platform with AI merchandising and analytics tools that can transform stores into real-time data engines. New AI capabilities reveal what shoppers touch, try and consider, giving retail executives and store teams real-time intelligence.

Reddit Tests ‘Shoppable’ Community Recommendations [MediaPost] In an effort to build its reputation as an ecommerce hub, Reddit is testing a new artificial intelligence (AI)-powered search feature designed to showcase products from ad partners based on recommendations drawn from on-platform communities.

Amazon adds more new features to Rufus AI assistant [Chain Store Age] Amazon continues expanding the functionality of its mobile artificial intelligence customer tool known as “Rufus,” a generative AI-based expert shopping assistant trained on Amazon’s product catalog, customer reviews, community Q&A, and information from across the web.

According to Walmart, AI Doesn’t Work If People Don’t [AIM] For years now, headlines about artificial intelligence have focused on robots taking jobs. Tech companies and analysts have warned that automation will replace millions of workers, erasing livelihoods in its wake. This week, Walmart offered a different version of the story.

PropTalk

Bloomingdale’s Is Defying the Demise of Department Stores [The Wall Street Journal] Bloomingdale’s doesn’t seem like a retailer that should be succeeding right now. Most of its 32 department stores are in malls and dozens of its rivals declined for decades and filed for bankruptcy or went out of business. A coveted group of customers, trendy women in their 20s and 30s, are native online shoppers.

Surf Parks Are Entering Their First Real Test as Commercial Real Estate Assets [Propmodo] When the first wave pools began appearing in development plans a decade ago, they were easy to dismiss as real estate theater. Now, the question is no longer whether surf parks can be built. It is whether they can operate as durable commercial assets.

Shopping malls proposed as retail circularity centers [Recycling Today] A German fashion and apparel consulting firm says malls and other shopping centers facing a declining tenant mix could brighten their prospects serving as retail return and resale circularity centers.

Saks Owner Says He Saved Department Stores. Never Mind the Bankruptcy. [The New York Times] Richard Baker sat in a borrowed Manhattan conference room across the street from the company he used to run, explaining why he — albeit a bit sad and beleaguered — was nothing less than a savior of luxury department stores.

The Next Mall Anchor? A Private Club [GlobeSt.] Once reserved for London’s Mayfair set or Boston’s Back Bay elites, private social clubs are finding an unlikely new home — inside American shopping centers. As department stores disappear and retail landlords scramble to fill cavernous anchor spaces, some are betting that exclusivity sells.

Ikea Opens its Doors to Other Retailers, Beginning with Decathlon in the UK [Retail Touchpoints] Ikea retailer Ingka Group has begun piloting store-in-store concepts with third-party retailers across Europe in a bid to make its specialty big-box stores “more relevant, convenient and inspiring for customers.”

How IKEA got closer to its shoppers with new small-format stores, Best Buy partnership [ModernRetail] IKEA U.S. announced plans to open four new U.S. stores in Chicago, Tulsa, Fort Collins and Los Angeles, marking 10 new stores in 2026. Some of the new locations are among the first small-format stores that bring some elements of the larger IKEA big-box stores to a smaller footprint.