Monday, December 17, 2018

More stores may hop to neighboring shopping malls amid surge of retail closings

nwi.com
Commercial real estate observers say it might become more common for stores to hop to nearby shopping centers because of the slew of retail closures in recent years, including huge national chains like Sports Authority and H.H. Gregg. Others, including Macy's and Lowe's, have scaled back and shrunk their footprints. That can give retailers options to move somewhere nearby and get a better deal on rent when their leases expire, and some landlords may try to poach their neighbors' tenants to fill vacant space.

"You're absolutely seeing more poaching nationally," CoStar Group Market Economist Brandon Svec said. . . . more