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Nontraditional Retail

by Tia on April 13, 2011

in Real Estate Economy

I hope everyone answered NO!  While the answer maybe be a resounding NO from me maybe I am being too harsh.  There was an article in the Times heralding the recovery of many of the empty Blockbuster stores which have been released.  What I found ironic about the article is the merit they added to the new "nontraditional" tenants…

Some 6,000 Blockbuster retail stores have closed in the past few years, creating a drag on the shopping centers where they were located. However, these sites have been attracting new tenants lately, some of which have been nontraditional. In one case, a pawn shop took over a Blockbuster location, attracted to the same characteristics that originally drew Blockbuster: It is a high-traffic site with day-to-day shoppers going to the anchor grocery store.

The main thing to note in ANY given retail development site is that if the plaza is anchored by a grocery store AND has high volume traffic the space surrounding it is considered prime space.  SO – if the best your prime space is bringing in for everyday use is a pawn shop – what does that say about our spending habits?!

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