Vacant 'Big Box' Stores Dot Arizona Landscape

Cities that encouraged go-go construction of power centers at major intersections are seeing their policies come back to bite them.

1 minute read

April 17, 2002, 7:00 AM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"Not long ago, the northeastern corner of Bell Road and 59th Avenue was a retailing hot spot mobbed with shoppers who swarmed to Costco, House2Home and nearby restaurants. Now, the vast parking lot is mostly empty. Costco moved, House2Home is out of business and some restaurants closed. A Levitz furniture store is the only remnant of a once-thriving center. The same scenario is playing out at retail centers throughout the Valley. Ravaged by harsh marketplace forces, "big box" stores are going vacant at a pace that some real estate professionals say is unprecedented. Empty stores bring the potential for urban blight. And stores built near anchors feel the pinch when the shoppers move to the next hot spot."

Thanks to Christian Peralta

Read the full story: Market suffers void due to loss of big retailers

Tuesday, April 16, 2002 in The Arizona Republic

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