Dead Shopping Centers & Strip Malls Can Be Revived.

By
Real Estate Services with William S. Cherry & No Co., Wealth Coach

Many investors and developers fell into developing various configurations of strip malls, beginning forty years ago.  Rather than retain experts in retail center design, leasing and management, they assumed there were no particular tricks to any of it. 

Prospective tenants didn't know much better, so leasing went smoothly and that further validated for all involved in the development and leasing that they were right - there was no need for experts.

Then the centers' retail sales began to fall, tenants moved out, sales failed further.

Well cities are full of these failed centers.  Some have a handful of marginal tenants; others have no tenants at all and are for all practical purposes, boarded up.  Dallas and the surrounding area are full of them.

Unless the neighborhood demographics and the drive by traffic have changed dramatically, almost all of those centers could be redesigned and remodeled to accommodate and attract appropriate tenants.  Oddly, few if any are being addressed, so it appears to me there are some real bargains to be had for new investors.

Over the past twenty years, several of my associates and I have joined together to consult the redevelopment of entire old downtowns and neighborhood centers.  Our projects were all successful.  And we're available to do others, anywhere in the U.S.

Meanwhile, over the next couple of days, I plan to post some of the items that shopping center leasing agents and managers must address if their projects are to be and remain successful. If you're involved in the commercial side of real estate, you may find these will be good check lists. - Bill Cherry

 

 

BILL CHERRY, REALTORS

Our 43rd Year Selling Texas

9936 Windlake Circle, Dallas 75238

214 503-8563

Copyright 2008 - William S. Cherry

All rights reserved

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Location:
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Comments 11 New Comment

Rainmaker
173,761
Doris Freeman
Broker/Agent, Realtor, Madison-Gibson-Crockett
RE/MAX REALTY SOURCE
With people trying to save on gas you see more strip centers and locals supporting them.
April 07, 2008 09:51 PM
Rainmaker
316,050
BILL CHERRY
William S. Cherry & No Co., Wealth Coach
William S. Cherry & No Co., Wealth Coach

You're sure right, Miss Doris, and I need to note that I studied a couple Tennessee cities' downtowns that had been revived and done extremely well.

Bill

April 07, 2008 10:07 PM
Rainmaker
316,050
BILL CHERRY
William S. Cherry & No Co., Wealth Coach
William S. Cherry & No Co., Wealth Coach

Geoff, I'd love to see some of them.  Do they have web sites that you are aware of?

Bill

April 25, 2008 11:58 PM
Rainer
14,259
Geoff Scowcroft
Coldwell Banker

I found some for Westfield Topanga at: http://westfield.com/newtopanga/index.htm

The photo's don't do the space justice. The walkways are not straight cooridors, but more paths that have a more gentle meandering feel. They are starting a new project in Sherman Oaks.

A number of new projects are underway in the San Fernando Valley. Many of these are redevelopment of old shopping centers. One is being build by J.H. Snyder Co, you can find more information at: http://www.jhsnyder.net/jhs/featured_project_detail/noho_detail.cfm.

I have a blog at: http://activerain.com/blogsview/417532/Los-Angeles-Southeast-San about many of the projects.

 

April 26, 2008 12:21 AM
Rainer
14,259
Geoff Scowcroft
Coldwell Banker

I found some for Westfield Topanga at: http://westfield.com/newtopanga/index.htm

The photo's don't do the space justice. The walkways are not straight cooridors, but more paths that have a more gentle meandering feel. They are starting a new project in Sherman Oaks.

A number of new projects are underway in the San Fernando Valley. Many of these are redevelopment of old shopping centers. One is being build by J.H. Snyder Co, you can find more information at: http://www.jhsnyder.net/jhs/featured_project_detail/noho_detail.cfm.

I have a blog at: http://activerain.com/blogsview/417532/Los-Angeles-Southeast-San about many of the projects.

 

April 26, 2008 12:22 AM
Rainmaker
316,050

BILL CHERRY

William S. Cherry & No Co., Wealth Coach
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