Why repurpose retail?

Big-box vacancy is increasing due to changes in the market caused by COVID-19. Retail is being re-imagined as users downsize or close leaving a declining market of retail tenants to occupy big-box spaces.

Change is happening in retail.

“To survive in today’s market, owners will need to re-evaluate the best option to fill the space.”

What's trending in retail re-use?

Fulfillment & Distribution

Multifamily

Flex office space

Medical

Entertainment

Education

Real life examples

Retail → office

Former luxury department store converted to co-working space.

Former Barney's New York was converted to an Industrious co-working space inside Scottsdale Fashion Square Mall.

Scottsdale, AZ Project size: 33,000 sf

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Retail → medical

Former grocery store repurposed for new primary care medical facility.

Former Basha's grocery store repurposed as HonorHealh medical facility in North Scottsdale neighborhood shopping center.

Scottsdale, AZ Project size: 57,539 sf

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Retail → distribution

Big-box retail space converted to a distribution facility.

Sam's Club warehouse store closes, reopens as Sam's Club e-commerce fulfillment center.

Chicago, IL Project size: 108,866 sf

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Retail → mixed-use

Big-box space converted to self-storage, mixed-use building.

Formerly a Walmart, the big-box space was converted into Megacenter Willowbrook, a self-storage plus industrial-flex, retail, and office mixed-use building.

Houston, TX Project size: 235,627 sf

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Retail → office

Former general store reimagined as Headquarters office space.

Former Walmart store was converted into the Headquarters for auto transmission rebuilder, ETE Reman, Inc.

Milwaukee, WI Project size: 140,002 sf

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Retail → multifamily

Former retail department store converted to multifamily community.

The former retail department store was repurposed into The Collins, a 112-unit luxury apartment building.

Philadelphia, PA Project size: 160,470 sf

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