Revitalizing Retail Spaces - The New Wave of Store Openings
As the retail landscape continues to evolve, the spaces left vacant by Bed Bath & Beyond are finding new life. GDL Capital recognizes this trend as a strong indicator of the enduring appeal and adaptability of retail centers, particularly strip malls, which are at the core of our investment focus.
New Tenants for Old Spaces: Major retailers like Macy’s and Burlington are capitalizing on the available Bed Bath & Beyond locations to expand their presence.
Diverse Transformations: Beyond traditional retail, these spaces are being repurposed into gyms, entertainment centers, and even pickleball courts, showing the versatility of these properties.
Online Transition: The bankruptcy of Bed Bath & Beyond has catalyzed a shift to online formats, while brick-and-mortar spaces are rapidly repurposed.
Expansion Amid Limited Real Estate: With limited new developments since 2008, retailers are seizing the opportunity to grow in existing spaces, such as the planned expansion of mini Macy’s stores.
Strong Demand in Suburbs: The demand for suburban strip mall space remains high, as evidenced by the significant increase in rent for these locations.
The swift uptake of former Bed Bath & Beyond spaces by a variety of retailers and entertainment venues underscores a vibrant market for strip mall real estate. This aligns with GDL Capital's investment strategy, reaffirming our belief in the potential of these adaptable, in-demand retail centers. As industry leaders like Kimco Realty demonstrate strong growth and heightened demand, GDL Capital remains poised to capitalize on these emerging opportunities in the retail real estate sector.
*Read more in New York Post’s article titled Macy’s, Burlington, Barnes & Noble moving into former Bed Bath & Beyond Spaces written by Lisa Fickenscher on November 28, 2023.
