The Mervyns in your community has closed its doors – what do you do with this 80,000 square foot building? This article provides solutions for filling your big box vacancies and even steps you can take prior to allowing a Wal-Mart or Hobby Lobby to open in your city.
Improve and Enhance
More than likely when you do have interest from a retailer for this vacant property, they will need changes to be made. Think about investing money into the improvement of the entire property at that point. Modern lifestyle areas offer green space, outdoor eating areas and nice landscape. These small enhancements will make customer’s shopping experience even better, inviting them to come back again soon.
Non-Traditional Anchors
Who says that Target or Home Depot needs to be the anchor that fills your currently empty space? As long as the retailer’s customer base fits in with the mix of other tenants in the development and the retailer can bring the foot traffic needed to have a successful anchor, you should consider your anchor filled!
Read more on Big Box Vacancies
Resources
Buxton Webcasts
Buxton will be hosting a webcast on February 11 titled
“Strategies for Retail Success: Attracting Retail To Underserved Markets”. During this webcast you will learn how successful cities are overcoming barriers that inhibit retail development in the community or in neighborhoods. You will also gain an understanding on how to match retail products and services to better serve your community’s needs and desires.
Click here to register for the webcast.
