The world of retail real estate has had a few turbulent years, but as anyone leasing space or developing retail shopping centers knows, that’s nothing new.
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For years, many have debated the death of shopping malls. The rise of ecommerce has been a big contributor to the struggles of brick-and-mortar retail, and many analysts and other experts have been talking about how these changes are impacting the American institution known as the shopping mall:
With COVID-19 shaking up the brick-and-mortar world, many expect that shopping center owners will having many vacancies on their hands in the months and years to come. For those whose job it is to fill those vacancies, wading through struggling and bankrupt chains to find businesses that are still seeking expansion opportunities will be a challenge.
If you’re in the business of leasing a shopping center or helping a retail chain find space for their next location, there are a few things you need to know:
When you’re in the business of leasing space or developing shopping centers, there’s one issue that probably matters to you more than just about any other: how can you find the best tenants to fill your space?
When you’re a shopping center developer or owner, your number one goal is to fill that center with the best tenants. Vacancies not only cost you money on their own, but also hurt your ability to attract strong tenants in the future.