Tuesday, April 7, 2009
Surf and Shop? How malls are filling their vacant spaces
Yesterday's NY Times had an interesting article about how malls are trying to fill their vacant retail space (http://www.nytimes.com/2009/04/05/business/05mall.html).
Some of their solutions were extreme (an indoor wave/surfing machine--the picture in this post appeared alongside the NY Times article) but a lot of them focused around bringing in retailers that are still doing well in this economic environment (value-oriented retailers) or finding non-traditional uses for their available retail square footage, such as community clinics, libraries or office space.
This is *exactly* the kind of strategy we recommended to a recent client in one of our traditional urban commercial districts who had some beautiful new retail space that unfortunately debuted just as the market was tanking and retailers started to retrench expansion plans. If you have vacant spaces on your corridors, are there short-term or nontraditional uses you can think of to fill that space?