Investors and developers around the country are seizing the opportunity to transform retail properties into other uses through adaptive reuse. This trend had been growing in the years before the pandemic hit and was accelerated by the effects of government mandated restrictions and economic uncertainty. 在最近的过去和可预见的未来, larger retail properties may continue to offer opportunities for redevelopment into facilities such as distribution centers, 自存, 办公室/商业中心, 医疗办公空间, 或新的零售概念和娱乐.
One of the most interesting trends in the market is the conversion of retail space into distribution centers. Amazon is a key player who has been in the news for buying all sizes of retail centers and converting them into distribution centers. 从大盒子到小的带状中心, 亚马逊正在寻找方法来利用这些完美的地理位置. 根据Coresight研究, Amazon converted about 25 shopping malls into distribution centers between 2016 and 2019. 除了, Amazon is being creative by encouraging customers to drop off their packages at “convenient and safe locations” in strip centers. 他们还把Kohl 's作为零售场所. Malls are generally built-in strategic locations that make it easy for the local population of shoppers to access it. This ease of access is also what makes malls great properties to purchase for a logistics purpose – they’re in a location that generally offers quick access to main travel routes and is closer to consumers. Amazon is continuing its redevelopment trend into 2021 with plans to convert malls in Baton Rouge, 诺克斯维尔, 和马萨诸塞州的配送中心的规模从3个不等.从400万平方英尺到12.1万平方英尺. 另外, 三县, 俄亥俄州, three mid-box retail buildings were combined into a last-mile distribution facility. 其中两名前房客是K&G时尚超市和百思买.
以及配送中心, investors and developers are buying and repurposing big box stores into 自存 properties. 根据一项 财富管理 article, 自存 facilities need to be in areas with high traffic and great visibility, 零售到底提供了什么. 另外, the conversion of old retail space into 自存 is generally cheaper than building new 自存 space. This lower cost helps make the financials work for 自存 owners who may have a low ceiling on the amount of rent they can charge per month for storage space. 在辛辛那提都市区, CubeSmart is converting old office buildings into 自存 properties in Newport, 肯塔基州; Mount Auburn, 俄亥俄州; and in the Over-the-Rhine neighborhood of downtown Cincy. 在战斗中溪, 密歇根, the old Lakeview Square Mall is seeing new life due to an adaptive reuse plan for several buildings. 原梅西百货的空间将被改造成大约100个,000平方英尺的自备仓库和一个小的包装材料销售区域.
Struggling retail locations are also ripe for conversion into 办公空间. 开发商Northwood Retail一直在将零售空间改造成办公室. 其中一个项目叫做W4, a 4,439 square-foot repurposing of retail space in the Domain Northside mall in Austin, 德州. Some of the benefits for the tenants that Northwood Retail cited include amenities like nearby restaurants, 客户和雇员的私有条目, 私人户外空间, 还有充足的免费停车位.
在Daleville, 印第安纳州, an old retail center was transformed into a business center with offices and some retail amenities. The Heartland Business Center at 9401 Innovation Drive now holds Ontario Crop, 雪莉实验室, 第一个商人的集团, 博伊斯形式/系统, 和Komputrol.
医生的办公室, 按摩师, 牙医, and urgent care clinics have been moving into former retail spaces for a while. Retail strip centers are very popular for medical office users due to the ease of access to and from the space, 协同的财产, 和可见性. One downside of this is that buildout costs for the redevelopment of space could be cost-prohibitive. 据调查, tenant improvement costs per square foot can range from $100/square foot to about $50/square foot for urgent care clinics and physical therapy suites, 分别. We discuss more of the considerations for placing health care tenants into former retail space in our blog here.
在赖特堡, 肯塔基州, a former Walgreens and Stein Mart were converted into The Christ Hospital Outpatient Center – Fort Wright. The former retail location offered great signage to I-71 and ease of access to and from the interstate from a nearby exit ramp.
零售也正在转变为其他形式的零售. 填补更大的空缺，吸引客户，使所有租户受益, 一些开发商正在增加保龄球馆和健身房, 比如Planet Fitness, 他们的属性. 这对租户来说是可行的，因为提供的租金通常较低, and the lower rents mean that many tenants can now get better locations that they previously could not afford. 甚至规模较小的零售商也加入了扔斧子等新概念. Recreation uses are becoming popular with owners because the traffic it creates makes it easier to lease other vacant space to traditional retailers.
在米沙沃卡运营, 印第安纳州, 空置的JC Penney家庭商店将被改造成36,一家“高端”电动汽车制造商的1000平方英尺展厅. Locals believe this manufacturer to be Tesla, but this has yet to be confirmed. 米沙瓦卡市议会于2021年7月批准了这一转变. These showroom stores usually have no real inventory to minimize the square footage they need, 这有助于保持低租金. Customers then get to see and feel the product and place an order for delivery.
有很多机会重新开发一个闲置的购物中心. 将其转变为配送中心, 越来越多的存储设备, 办公空间, 医疗办公空间, 或不同形式的零售将需要时间和考虑. With more investors and developers recognizing the opportunity and trend in transforming retail space, 在一流地段的零售地产只会更难找到.
感谢Julie Pettypool, 比尔布赛, 安迪Knapick, 伯特Hehman, 和Vee Kimbrell的贡献.