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Retailers “Downsizing” and Move Away From Big Box Superstores
A recent Daily Journal article, featuring CGS3’s Craig Swanson, discusses how the proverbial commercial real estate pendulum has swung towards smaller, urban stores and away from the “big box” retailers we are used to. Due to reasons such as a millennial preference for an urban experience, urban economics preferring smaller stores, growing health and fitness trends, and government efforts to curtail urban sprawl, this evolution is nothing short of noticeable.
It goes on to further highlight that many factors such as vast upticks in online shopping and a decrease in need for brick and mortar business are greatly influencing this downsizing trend. The articles notes that even superstores such as Target and Wal-Mart are downsizing to “City” and “Neighborhood Market” stores to cater to the “smaller” economic and urban trends.
Read the full article at the Daily Journal (subscription) or learn more about Craig Swanson click here.