![]() ![]() Which companies are growing?īed Bath & Beyond has fallen to the “retail apocalypse” over the past decade, but many chains are still growing. In some cases, landlords are also eager to replace old Bed Bath & Beyond leases because the company was paying below-market rent in certain locations, Telsey Advisory Group analysts said. “There is good interest for Bed Bath & Beyond stores that are closing given desirable locations” and an average size of around 30,000 square feet, retail analysts from Telsey Advisory Group said in a note to clients. Plus, the majority of its stores are in the suburbs of mid-size and large cities and are under 50,000 square feet, all of which are attractive qualities in retail as brands trend toward smaller spaces to save on rent, labor and other overhead. The company has stores in all 50 states, with the most in population-dense areas in California, Texas, New Jersey and Florida. So Bed Bath & Beyond has a lot to offer prospective tenants. Particularly in a tight commercial real estate market, bad news for one brand means opportunity for another.Īnd for existing spaces, the retail space vacancy rate fell to 4.9% at the end of 2022 - the lowest level since CBRE began tracking the market in 2005. It will not take long for retailers to occupy those spaces.” “A lot of great real estate is going to come available into a market where there’s been no vacancies. “E-commerce scared a lot of people off from building retail,” said Brandon Isner, the head of retail research at CBRE, a commercial real estate firm. There’s been little new retail development since the 2008 financial crisis and the rise of online shopping, and vacancy rates are at historic lows. ![]() Burlington, Five Below, Nordstrom Rack and budget gym Planet Fitness may also fill up the spaces, say retail landlords and real estate analysts.īed Bath & Beyond’s real estate is a precious, scarce resource for retailers, gyms and anyone else who needs ample space. Bed Bath & Beyond already has closed 400 stores over the past year.Īlready, chains including TJ Maxx, HomeGoods and Ross have scooped up some vacant stores. The company filed for bankruptcy Sunday and said it will begin closing its remaining 360 Bed Bath & Beyond stores and 120 buybuy Baby locations. Bed Bath & Beyond is stripping down its big blue signs, clearing out aisles of linens and closing hundreds of stores. ![]()
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