Vacant Big-Box Space as a Redevelopment Opportunity

This recent Chain Store Age article highlights a trend we’re seeing firsthand at Rise Partners: vacant big-box space can be a redevelopment opportunity.

Today’s most successful repositioning strategies aren’t necessarily about finding one tenant to replace another. They’re about understanding the market, rethinking the tenant mix, selectively subdividing space, and bringing in retailers and uses that can drive traffic and create long-term value.

That approach is central to our work at Rise. A great example is Coastal Centre in Conway, South Carolina, where underutilized former big-box spaces created an opportunity to reposition the center around today’s retail demand. Through strategic redevelopment and re-tenanting, the property has welcomed HomeGoods, Marshalls, PetSmart, Burlington, Ulta Beauty and Five Below, with a Walmart Neighborhood Market planned as the final anchor.

Coastal Centre is one example of what we continue to see across our portfolio: significant opportunity to transform well-located, underutilized retail real estate into more productive, relevant, and valuable properties.

Read the full article: https://lnkd.in/g2avXJb7