There is notable cause and effect of shrinking retail inventory. Brian Bern, a senior director of real estate services at Franklin Street, is keeping a close eye on the cause and effect and the impact it’s making on the market.
Bern discussed that in part one of this exclusive interview: Cause and Effect of Shrinking Retail Inventory. In part two, he identifies which tenants are expanding amid the shrinking retail options.
“Tenants who can take an anchor spot or develop their own freestanding location continue to grow,” Bern tells GlobeSt.com. “Sporting goods retailers like Bass Pro Shops, Academy Sports + Outdoors, Dick’s Sporting Goods and Sports Authority are actively seeking and opening new locations. Athletic wear retailers like Athleta and lululemon also continue to grow.”
Bern went on to say that grocery stores serving local, fresh or organic food are rapidly expanding in the junior box space. He specifically pointed to chains like Whole Foods, Fresh Market, Earth Fare and Trader Joe’s as a a few examples that are opening new locations throughout the state. And Five Below, a teen and pre-teen focused retailer offering trendy merchandise at extreme value prices, he said, recently opened their first stores in Florida.
“Good news for landlords is that mom-and-pop stores have the confidence to grow,” Bern says. “They are finding more lenders willing to offer financing options, and as a result are opening franchise and start-up businesses at a rapid pace. Unfortunately, mom-and-pop tenants are also finding it harder each day to find and secure viable locations.”