Monday, July 21, 2008

The Death of the Strip Mall...

...continues to accelerate:
The vast majority of these failed companies are among the nation's 23 million small businesses, with fewer than 100 employees. Their fortunes have tumbled as the national economic downturn has deepened.

"The climate is turning desperate for small businesses," said George Cloutier, founder of American Management Services, a consulting firm that helps small companies increase profits. "They are in crisis, and, as these numbers show, it's getting worse and worse."
Daily Sprawl keeps hearing more and more reports about a pending boom in the desertion of strip malls. Expect to see many stores in your typical sprawl strip flashing "For Lease" and "Vacancy" signs soon. A big question is whether strip mall landlords will actually evict tenants or seek compromises. After all, an empty store is often worse than a filled one that isn't paying full rent.

If only we would have developed like this from the outset...