The pandemic just quickened the timeline for the adaptations that were already taking place in retail. One of these changes being retailers taking advantage of the much more flexible lease terms offered by desperate leasing agents. With adaptations in commercial real estate, we are entering a new phase in retail.
New doors are opening soon in Colorado, including a globally inspired restaurant, a cocktail lounge, and an outdoor mountaineering retailer. Below are a few restaurants and one retailer who had enough success to open new locations.
With cold months behind us and COVID cases on the decline, we are entering into a new season: a season of hope. Retailers are reflecting that hopeful attitude by opening more locations.
A picturesque traditional Italian restaurant, Angelina’s Pizza and Pasta is family owned and operated with their sole location in Odenton, Maryland. And they are an example of an expansion candidate primed for multi-unit status.
A bookstore serving coffee or a wine bar selling books: a retail concept is maximizing book sales by adding beverages served in-house for a beautifully paired experience. Sometimes the unique way to fill a vacancy can be as simple as tapping into the creative side. Here are some creative retail concepts to fill your vacancies.
As Utah’s population speedily increases, the demand for more retail increases. Utah is currently experiencing exponential growth and retailers are expanding to multiple locations in 2021.
Open outdoor space integrated among retail has become a highly sought after luxury during the COVID-19 pandemic, while requiring ample amount of open space for social distancing. Though we may be on the tail end of the pandemic, the commodity of open outdoor space in shopping centers will be a desirable trend moving forward and can help leasing agents and center owners replace some of the lagging rent payments.
Responding to the growing need for essential goods with convenient curbside pickup, Aldi announced expansion plans to open 100 new locations in 2021. The retailer has specific plans for expansion that will take them into several regions nationwide.
The tempestuous year of 2020 is gratefully behind us, although the budding 2021 has seen the worst pandemic days yet. Restrictions vary regarding indoor dining leaving predominately dine-in restaurants in a limbo until vaccines are widely available. Scrambling to discover the new normal and get creative, restaurants are finding ways to keep customers eating outdoors, safe and warm.
Amid a chaotic year, Best Buy proved retail can move forward better than ever by experimenting and adapting to new retail concepts. In a year of mayhem, few retailers discovered a year of opportunity.