Although online shopping continues to grow, a variety of retailers are seeking out shopping center space formerly occupied by departing brands. That includes both new concepts and variations of tried-and-true stores. The trend is that even as some brands collapse, other retailers are jumping to fill the void because consumers still want to shop
Below is an article from bisnow.com that describes what is taking place in the shopping center real estate market and what is predicted in the near future to continue. Please enjoy the article and give us a call if we can help with any of your real estate needs.
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Source: bisnow.com | Re-Post Caton Commercial 5/17/2018
Retail is an industry of churn. Old retailers go, new ones take their place.
That is what is happening now more than a “retail apocalypse,” the International Council of Shopping Centers reports, with a broad array of retailers seeking out space in shopping centers formerly occupied by departing brands. That includes both new concepts and variations of tried-and-true stores.
For example, this year the TJX Cos. will open 15 HomeSense stores, which sell furniture, lighting and art, following a successful U.S. test of that Canadian concept. The company also opened 25 of its existing Ross Dress for Less brand stores and a half-dozen DD’s Discounts stores in early 2018.
Retail giant Target is planning 35 more stores this year, mostly small prototypes, such as a 24,700 SF store in Washington, D.C. It plans to open as many as 130 such small stores by the end of 2019.
Whole Foods will open 16 more 365-branded stores this year, according to Amazon. This concept’s 30K SF space makes it a better fit for shopping centers than the Whole Foods’ standard size of 43K SF, the company says.
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