Smith: The amount of data retailers have is mind boggling. Retail traffic is even monitored by looking at satellite photos of competitors' parking lots. They know everything about their consumers, and potential consumers. This data is now being mined and mapped to determine store density, key markets, when to change, when to move, when to close, and how to customize product and tenant mixes. As stores move to new formats, you may see some make smaller localized stores while others create super hubs. Many others are just looking to maximize profitability by closing or moving non-performing assets.

GlobeSt.com: How is this wave of closures shifting the online presence of retailers? How might this also create a shift in brick and mortar?

Smith: Although the internet did not kill TV, it will change retail. Click versus brick will be the battle for the next 20 years. Retailers have been watching, testing and racing to see who can solve the perfect mix of this equation. Programs to order online but allow pickup in store (instead of shipping) have proven very successful to increase add-on sales and give customers a store connection. However, this will also shift as more shipping options arise at cheaper rates and consumers have more trust in packages arriving at their door.

GlobeSt.com: What is the average cost to close a store and/or restaurant? How will these costs impact retailers and ultimately impact overall market activity?

Smith: Store closures cost money to retailers. They have to adhere to restoring condition of the facility, and most have modified many things during their lease terms. They also typically have a great deal of equipment they will not need. When our team goes in from Surplus Asset Management to shut down a facility, we hear they have paid $20,000 to $60,000 to exit a retail location and leave it ready to lease for the next tenant.

GlobeSt.com: When they use an auction company like Surplus Asset Management, how much money can they save?

Smith: Now our advantage is we can come in and using our removal and auction process, we actually write a $10,000 to $90,000 check back to the restaurant, grocer or retailer. We do this by optimizing the steps, leveraging our national presence and partners, and sending in specialist for each stage of the process. This optimization can result in faster turnarounds and even reduce lease times for the client by getting them out of a building faster. This makes landlords happy, accountants smile and facilities guys breathe easy.

GlobeSt.com? Is there also an environmental benefit?

Smith: We have been a top recycler of used equipment for 20-plus years. Our goal is to keep items out of landfills in order to reuse, repurpose and resell on behalf of our clients. Something as simple as recycling all the dead fixtures as scrap metal, and reselling all the fixtures, furniture and equipment to a database of 20,000-plus buyers looking for used equipment has kept thousands of dumpsters out of landfills over the last year. And with our new “ one Green” program we implemented in 2015, we can now offer retailers and option to also have us separate glass, plastics ewaste and wood in addition to metals. This can reduce five dumpsters in an average store down to only one going to a landfill. This makes environmentalists and cooperate oversight boards much happier.