Instead of hearing about massive store closures this year, we could get more news about chains opening their doors, according to a just-released retail report by CB Richard Ellis. The report surveyed executives at just over 100 retail companies — most of them national — and found that more than 90% of the respondents planned to boost store counts.
One chain highlighted was 7-Eleven. “With other retailers shedding stores, 7-Eleven is in a position to acquire top retail space that wasn’t available a few years ago,” said Dan Porter, that company’s vice president of real estate and new store development.
Additionally, about 70% of those polled said that the economy is either stable or improving. Nearly half said they expect rental rates to decrease and 43% expected no change in those numbers.
Do these chains seem a bit optimistic about the picture out there or is it truly a good time for them to take advantage of better pricing? Also, is over expansion a factor?