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Vacancies across the nation have risen as big-box retailers and department stores announced closures and the construction of new product simultaneously slowed. The tenant mix in strip centers is a healthy mix of internet-resistant retailers and service-oriented tenants. Owners and managers of strip malls anchored by grocery stores are complementing their tenant mix with discount retailers, quick-service restaurant concepts, family entertainment options and smartphone shops. Strip malls are also benefiting from the decentralizing of medical campuses. With little new strip mall construction in progress, immediate demand from tenants has revitalized strip malls, especially those that were built 20 to 50 years ago. Quantum Real Estate Advisors President Chad Firsel agrees that strip malls have become e-commerce-resistant, and that has been proven by the growing presence of service-oriented retailers like barbershops, beauty shops and nail salons that cannot be replaced by an online retailer.
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Pros cons with apartments versus strip mall investing
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Strip Malls Like You've Never Seen Before
The place was built for the automobile: Endlessly sprawling suburbs, winding highways and, above all, strip malls. This month, Ms. Crumbling, tacky and unloved, the bland s-era strip mall remains the scourge of developers and urban planners alike.
Carriage Towne Plaza is a multi-tenanted retail shopping center including a 29, SF building and a 20, SF building. Located just off Route , the Plaza provides excellent accessibility and visibility with over 14, vehicles per day. Carriage Towne Plaza is an exciting investment opportunity, offering credit quality tenants in a desirable location, with ample parking. A rare opportunity to own luxury 4 unit condominium building in the heart downtown and steps to Prescott Park.
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