Blockbuster store closings obviously weren't a good thing for the industry, but in Canada there seems to be more hope of filling them the in the US. About 250 Blockbusters will close in Canada by the end of the year, not nearly as many as the thousands south of its border.
For the most part, according to a Globe and Mail article, this is being seen as an opportunity. “We have a shortage of retail space. We need the space,” said one observer, commenting that suburban pad sites are really in demand in that country.
In the Toronto area alone in 2009 there was 12 million square feet of space added, and retailers are apparently looking for more.
But we think this sentiment probably doesn't exist much in the US, especially with the demise of Borders and the aftershocks caused by the closings of Circuit City and Linens 'n Things. Sure, there are some nice stories out there about pawn shops and other nontraditional tenants filling Blockbuster spaces, but for the most part, these scenarios are few and far between.
How does it look in your market? Can a lot of these stores get leased by other tenants?
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
