Grocery Stores Becoming Hot Mall Properties

Supermarkets are moving in to spaces vacated by department stores in malls, which until recently were too costly for grocery stores to rent.

Elaine Misonzhnik reports that the trend is popular again because property managers see groceries as great at generating traffic, and with so many retailers hit by the economic crisis malls are lacking in large tenants:

"While people visit a mall about once a month, they tend to shop for groceries at least once or twice a week, according to Green and others. Westfield reports that in the three weeks since it opened a Seafood City Supermarket at its Westfield Southcenter in Seattle, Wash., foot traffic to the center increased 26 percent."

Full Story: Regional Mall Owners Experiment With Supermarkets


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