Chain Store Closings, Online Shopping Create Plaza Vacancies
LAS VEGAS (AP) — Retail consultants say bankruptcies and closings of some large chain stores, along with increased online shopping, are to blame for vacant stores in strip malls around southern Nevada.
Sage Commercial Advisors brokerage firm reports there are 107 empty retail spaces of at least 10,000 square feet in the Las Vegas-area valley. Forty of those are at least 30,000 square feet, typical of big-box stores that help anchor shopping plazas.
The Las Vegas Review-Journal reports (http://bit.ly/2mf6YRg ) there are fewer empty big-box stores today than there were during the recession but supersize vacancies linger.
America's Research Group consultant C. Britt Beemer says strip malls with attractive restaurants and smaller stores with loyal customers can allow shopping plazas in Las Vegas to survive even if they lose a large anchor store.