Retailers Fled? Think Local, Experts Say

19 May 2009 - 1:00pm

Real estate brokers are looking towards local and atypical businesses to fill empty retail space left behind by shrinking and bankrupt national chains like Starbucks and CompUSA.

"The economic downturn has allowed many smaller private companies to 'access spaces they may not have been able to get into in the past, and that is a positive,' said Bernard Haddigan, managing director of Marcus & Millichap’s national retail group.'“There are a lot of communities that want to have local vendors instead of just national chains.'

Beyond grocery and discount stores, pharmacies, warehouse clubs and quick-service restaurants, there are some relatively atypical tenant types thriving in this down economy too, among them liquor stores, pawn shops, auto-parts shops, and even gun sellers, Haddigan says."

Source: International Council Of Shopping Centers, May 18, 2009
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In short, we’ve seen the last of the cheap oil on which we’ve built our economy, our communities, and our daily lives.