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Story Archives: Small retail centers continue to develop
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Small retail centers continue to develop
We continue to see the development of small retail centers in our market. Their popularity grows every year and most remain at or near full occupancy.
While the mega stores and malls will always attract the most consumer dollars, these small centers have found a niche in markets all across the country. They offer something to the consumer that the larger stores cannot offer and it is called the convenience factor.
This factor is defined as quick-in, quick-out and close to the front door parking. Because their lower rent and operating cost are much less than the larger stores their products are most often competitively priced. Their limitation is the sometimes limited products available.
About 80 percent of these smaller stores are locally owned and the dollars you spend stay in the local economy. They are owned by local 'risk takers' that have ventured into the retail world because they believe they can offer a product and service that the mega stores have long forgotten.
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