The end of the traditional big-box era is creating a new landscape where mom-and-pop retailers are the new credit tenants for mall and strip center landlords who have to reinvent the large spaces vacated by Sears, Toys R Us and others like them. When looking deeper at the macro-economic drivers impacting the sector—the high-profile big-box bankruptcies, proliferation of e-commerce and increasing emphasis on “experiential retail”—the next generation of retail is one of opportunity, not an apocalypse as many have suggested.
With so much focus on the closure of big-box stores like Sears and Toys R Us, the opportunity for landlords to recapture these spaces and repurpose them to higher and better uses has been largely overlooked. . . . more