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Holidays Bring No Savior As Retail Centers Empty

Posted by: Nate Berg

28 November 2008 - 7:00am

Not even the Christmas season is expected to turn things around for struggling retailers, which are dropping like leaves and littering vacancies in shopping centers across the country.

"After the eatery closed five months ago, the 7,500- square-foot space remained vacant. With no tenants stepping forward and fewer customers clogging the parking lot, the plaza is quiet, with a curiously dark core."

"It's a scene repeated in various forms throughout the region, as the economic crash that started rolling through single-family housing more than a year ago begins to hit shopping centers, turning what had been a residential phenomenon into one that threatens commercial real estate as well."

"Business is so bad that an increasing number of retailers are calling it quits -- without waiting to see whether money can be made as the Christmas season gets underway."

Full Story: Shopping malls are running on empty
Source: Los Angeles Times, November 24, 2008
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Areas well-served with public transit and nearby jobs and services simply require less travel because residents have the option of walking, riding a bike, taking public transit, or driving.
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