CHICAGO—The demise of The Sports Authority left some big holes in Chicagoland's retail market, but landlords have already filled much of that space. Next Realty, LLC just completed several leases for its community retail center at 7233 West Dempster St. in Niles totaling more than 46,000 square feet, including more than half of the space previously leased by Sports Authority.
“In the retail world, the internet is hurting many tenants,” Marc Blum, president of Skokie, IL-based Next Realty, LLC, tells GlobeSt.com, “but great locations are still great locations.” And the high traffic counts, impressive demographics, and other solid fundamentals inevitably draws retailers to Niles. “It checks all of those boxes. The people who live in the neighborhood still shop there.”
The trick these days is to secure tenants that can remain viable even as e-commerce cuts into the revenues of many stores, he adds.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
