Following many storesb closings over the last couple of years, a number of retailers have announced expansion plans and are re-leasing vacated b big boxb space.
Hhgregg, for example, has opened more than 30 stores in the last year and a half, with plans to open another 45 locations in 2011—and most of these new locations are in buildings formerly home to Circuit City stores.
CoStar Group reports,
According to The Big Box Dilemma, a new white paper issued by Colliers International, nearly one-third of the nation’s top 500 retailers have increased their growth plans for 2011 and beyond. Strong store sales during the first half of 2010 also may have emboldened these companies to lock in competitive lease rates in new locations.
Top-tier big box sites—those located in busy shopping centers and choice intersections—are making up the majority of retail occupancy growth, and Colliers International expects them to be backfilled within the next year or two.
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Tags: big box space, big box stores, retail occupance growth, retail occupancy trends
