This Minneapolis Star Tribune article looks at the prospect of cutting up vacant big-box stores into multiple spaces for smaller tenants. Landlords certainly have room to get creative with the closures of Circuit City, Linens ‘n Things and others, while it seems like large-format retailers aren’t expanding like they used to.
But the prospect is also much more expensive than finding a replacement tenant, shopping center owners say.
But one CB Richard Ellis executive quoted in the article says the activity is “ever so little.” What is possibly more likely is that we will see these boxes turn into different uses altogether, such as churches.
Are you seeing big box stores get sliced up in your local market, or are the empty storefronts just remaining vacant?