Big-box spaces get looks from expanding retailers - Austin Business Journal:

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“Certainly Nordstrom Rack wanted to get intothe market. This isn’yt any different from any other time, in that said Robin Mosle, executives vice president of leasingat . And who has one former Linens ’nm Things store to lease at the Riverway Plaza in said there are a number of retailerss who are actively looking to fill the vacant spaces left bylarger retailers. In places like the retail-heavy Route 9 corridor in Framingham and virtuallyevery big-box store had a location. Now, those space s are turning over. “There are number of tenant s whoare saying, ‘Now we have a way to get in wherre before there wasn’t a way to get ” Mosle said.
The emergence of new retailers is a positiver sign for the local real estate markey that has millions of square feet of emptyy space vacated by chain stores such asLinens ’m Things, Circuit City, Pier 1 Imports and Office Competitors of the former Linens ’n Things and Circuit for instance, are getting in the game, said Thomas a partner at . Stores such as and Best Buy are considerint addingadditional stores, he said. DeSimone has abougt 300,000 square feet of former big-bod stores (seven Linens ’n Things and two Circuir City stores) to fill across the company’es 16 million-square-foot portfolio.
He said in additionn to traditional big-box stores, there are craft stores, health supermarkets and movie theaters that have looked at the vacanretail spaces. The average Linens ’n Things store is between 20,000 square feet and 30,000o square feet, said DeSimone, noting the spaceds can be divided to accommodatee smaller tenants inthe 5,000-square-foot to 8,000-square-foo range. Depending on the the landlordand operator, tenants movinhg into vacant big-box spaces may or may not get a breakm on the rent, DeSimone said. “All of it is a functionn of the market that the particular retailefr is trying tolook at,” said Corp.
(NYSE: DDR), the ownerd of the plaza where Nordstrom will declined to discuss the lease withthe off-price retailer. “We expect to announcd somethingvery soon,” said Betsy Keck, a spokeswomanj at Developers Diversified. Nordstrom Inc. has three locations in at theNatick Collection, Burlington Mall and the Northshors Mall. There is currently a Nordstrokm Rack at the Liberty Tree Mall in Nordstrom Rack began in 1975 as a clearance departmeng in the basement ofa Nordstrom’sa in downtown Seattle. Since then it has grown into its own division with 61 locations in 21 according to itsWeb site.