Wednesday, December 22, 2010

More on Big Boxes Getting Smaller...

This trend appears to be picking up speed as 1) urban markets remain relatively undeveloped for many big boxes, 2) zoning laws continue to restrict new mega-sized buildings, and 3) same store sales remain relatively flat even for newer big boxes.

Here's another story discussing the somewhat oxymoronic situation of smaller, big boxes:

Retailers have been following the growth of the suburbs for decades, setting up in shopping centers and big-box strip malls far outside the core of major American cities. Department stores that stayed in big-city downtowns have suffered. Others didn't stay -- they closed up altogether.

But a reversal of that trend is becoming apparent. Big-box retailers -- companies that built their discount businesses out where land was cheap and space was plentiful -- are now moving inward.

Both Wal-Mart and Target are prime examples of big-box stores with big-city plans. They're aiming at the likes of Chicago, Los Angeles, New York, Seattle and Washington, D.C.

Chad Emerson, Faulkner

http://lawprofessors.typepad.com/land_use/2010/12/more-on-big-boxes-getting-smaller.html

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