Run On Retail Space Has Phones Ringing

by George Waldon  on Monday, Jul. 29, 2013 12:00 am  

Rezoning is now in place to facilitate the relocation of Whole Foods into the former 39,200-SF Linens N Things store at 501 S. Bowman Road. That move would leave a 22,400-SF vacancy at The Village at Pleasant Valley, a 90,400-SF retail center at 10700 Rodney Parham Road.

A wild card in the market is Sears Holdings Corp., representing the 2005 merger of Sears, Roebuck and Co. and Kmart. The combined operations of the two chains continue to struggle, and store closings have followed efforts to stabilize profitability.

Retail watchers wonder when the company might close or reposition a Kmart or Sears store in the market.

“It seems like high-end retailers and discounters are thriving, while those in the middle continue to look for ways to improve their operating efficiencies,” said Brooke Miller, broker-leasing agent with Little Rock’s Flake & Kelley Commercial. “The shift to smaller boxes is a continuing trend. Big boxes are going medium, and medium boxes are going smaller. Successful retailers are looking in smaller markets with new, smaller prototypes.”



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