News and Events
Spacing Out
A sharp increase in store closings in 2008 will force landlords to consider new kinds of tenants.
Apr 1, 2008 Retail Traffic Elaine Misonzhnik
In February 2007, Dillard's closed a 150,000-square-foot store at the 206,000-square-foot Shively Shopping Center in Louisville, Ky. During a normal economic period, that wouldn't have been a major hardship. The center's owners, Shively Center LLC, could have sought out a replacement anchor. Or, short of that, the center's owners could have chopped up that space and leased it to several smaller retailers. But the past 12 months have been far from normal.