Retailers Fled? Think Local, Experts Say

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.
May 19, 2009, 1pm PDT | Tim Halbur
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"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."

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Published on Monday, May 18, 2009 in International Council Of Shopping Centers
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