KB Toys bit the dust this week, filing for bankruptcy. Big Box tenants (anchor tenants) that have declared bankruptcy as well include Circuit City & Linens N Things, which causes problems for commercial real estate developers. Then, lets not forget Starbucks and their recent problems. While Starbucks isn't an "anchor tenant" from a space perspective they do drive traffic to market centers. I've seen them pull out or close 3 different projects within 3-4 miles of my house. At some point, other coffee retailers are going to go on the offense as I think Starbucks is finally getting TOO defensive and missing out on some great opportunities/traffic. Developers won't forget what they have done....
Dan Ross
Monday, December 15, 2008
Great Follow Up Interview on Commercial Real Estate
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