With empty retail spaces becoming more prevalent in once-thriving shopping centers, property owners sometimes have to consider alternative uses for these spaces.
Businesses such as self-storage facilities, call centers, high tech firms, or light industrial companies may find those empty spaces desirable. In many cases, though, local officials need to change zoning ordinances to enable these new uses.
In such cases, it’s critical for officials to act fast, according to a Michigan real estate specialist quoted in a GlobeSt article. After about 18 months, an empty big box becomes very financially burdensome to maintain and the property can deteriorate.
Of course, the easiest and quickest way to fill a large empty retail space is with other retail. The U.S. has more retail space than it needs, so that option is not always tenable. In such cases, local officials who act quickly on zoning can be a huge help in getting the space filled.
Related Stories
Codes and Standards | Apr 19, 2019
Developers and owners can now join AIA 2030 Commitment
Organization offers tools and resources for working toward net-zero design.
Codes and Standards | Apr 19, 2019
New method of manufacturing cement removes CO2 from the air
Breakthrough could have significant impact on reducing greenhouse gas emissions.
Codes and Standards | Apr 12, 2019
Deadline nears on New York City sprinkler requirement for tall office buildings
The mandate applies to all buildings regardless of when constructed.
Codes and Standards | Apr 8, 2019
LEED v4.1 now available for cities, communities, residential/homes
The rating system emphasizes performance monitoring, fully integrated design, social equity, and human health.
Market Data | Apr 8, 2019
Engineering, construction spending to rise 3% in 2019: FMI outlook
Top-performing segments forecast in 2019 include transportation, public safety, and education.
Codes and Standards | Apr 5, 2019
Manhattan expected to adopt congestion pricing plan for automobiles
New York would be first U.S. city to charge drivers extra for downtown motoring.
Codes and Standards | Apr 4, 2019
Chicago makes major building code overhaul
Previous comprehensive changes were done 70 years ago.
Codes and Standards | Apr 3, 2019
Construction advanced materials makers can enhance industry efficiency with technology
Integration of new IT approaches in construction with new materials has potential to enhance sustainability, alleviate worker shortage.
Codes and Standards | Apr 2, 2019
Open offices reduce collaboration among employees
Counterintuitive finding makes value of wide open workspaces questionable.
Codes and Standards | Mar 29, 2019
New timber traceability LEED credit released
Pilot credit aims to reduce use of illegal wood in buildings.
