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 | Feb 12, 2015
New Appraisal Institute form aids in analysis of green commercial building features
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work.
Codes and Standards | Feb 8, 2015
ASHRAE, IAQA approve consolidation
Under the consolidation, IAQA will become a part of the ASHRAE organization while maintaining its own brand and Board of Directors.
Codes and Standards | Feb 6, 2015
Obama executive order requires federal construction projects to consider flood damage caused by climate change
To meet the new standard, builders must build two feet above the currently projected elevation for 100-year floods for most projects.
HVAC | Feb 6, 2015
ASHRAE, REHVA publish guide to chilled beam systems
The guide provides tools and advice for designing, commissioning, and operating chilled-beam systems.
Codes and Standards | Feb 2, 2015
AGC working with EPA on website to help with environmental rule compliance
The goal is for the site to be improved to make it easier for construction contractors to learn how to comply with federal and state environmental guidelines.
| Feb 2, 2015
New York law requires informing firefighters of wood truss construction
New York enacted a law that could make firefighting a bit safer by mandating property owners inform government and first-responders when they build or rehabilitate a building using "truss-type" pre-engineered wood or timber.
| Jan 14, 2015
Ontario code changes boost accessibility for people with disabilities
The new amended Ontario building code includes several provisions that improve accessibility for those with disabilities.
| Jan 14, 2015
American Concrete Institute releases Spanish edition of structural concrete code
New York City last year adopted the National Institute of Standards and Technology (NIST) recommendation to require additional exit stairways in high-rise buildings.
| Jan 14, 2015
Terrorism Risk Insurance Act renewed
President Barack Obama signed the Terrorism Risk Insurance Act law on Jan. 12.
| Jan 9, 2015
Academy of Art in San Francisco under fire for code violations
The fast-growing Academy of Art is under intense scrutiny by the City of San Francisco for code violations.