retail closings<\/a>. Just this week, Michael Kors joining the contractions\u2014the latest in a long string this year. Even so, there are big-box retailers opening hundreds of stores covering tens of millions of square feet this year with less fanfare, according to a CBRE Group report released Wednesday.<\/p>\nIn the report, the company highlights 13 retailers with plans to open nearly 1,700 stores all together in the U.S. this year, totaling more than 40 million square feet. Many are off-price retailers or discounters, which shoppers are increasingly favoring because they offer low prices, as well as occasional surprise discounts and limited-time merchandise to encourage return visits.<\/p>\n
Typically, big-box stores occupy 10,000 square feet or more each in power centers, and many are category killers. Department stores\u2014a retail subsector seeing a whole other kind of woe\u2014aren’t covered by the report.<\/p>\n
CBRE expects the average availability rate for U.S. power centers to come in at 6.8 percent this year. That\u2019s more than two percentage points less than the sector\u2019s 10-year high for availability of 9 percent, back during the worst of the recession in 2009.<\/p>\n
\u201cWe will see an increase in vacancy in the big-box sector due to recent bankruptcies and closures,\u201d said Melina Cordero, CBRE’s head of retail research in the Americas. \u201cBut the hoopla about those collapses nearly ignores that many retailers in the big-box category continue to open additional stores. Some\u2014perhaps a lot\u2014of the big-box space now being vacated won\u2019t be empty for long.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
While retail bankruptcies are at an all-time high, there are certain retailers that are still expanding, mainly in the off-price or discount category, according to a recent CBRE retail report. <\/p>\n","protected":false},"author":1023,"featured_media":1004128765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742,21749],"tags":[32789,34997,35935,35934],"class_list":["post-1004179036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","category-retail","tag-cbre","tag-cbre-group-inc","tag-department-stores","tag-melina-cordero"],"acf":[],"yoast_head":"\n
Economy Watch: Contrary to Expectations, Some Retailers Are Expanding - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-contrary-to-expectations-some-retailers-are-expanding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Contrary to Expectations, Some Retailers Are Expanding\" \/>\n<meta property=\"og:description\" content=\"While retail bankruptcies are at an all-time high, there are certain retailers that are still expanding, mainly in the off-price or discount category, according to a recent CBRE retail report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-contrary-to-expectations-some-retailers-are-expanding\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-01T15:18:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T06:30:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/retail.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4320\" \/>\n\t<meta property=\"og:image:height\" content=\"3240\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-contrary-to-expectations-some-retailers-are-expanding\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-contrary-to-expectations-some-retailers-are-expanding\/\",\"name\":\"Economy Watch: Contrary to Expectations, Some Retailers Are Expanding - 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<\/a>This is a time of retail closings<\/a>. Just this week, Michael Kors joining the contractions\u2014the latest in a long string this year. Even so, there are big-box retailers opening hundreds of stores covering tens of millions of square feet this year with less fanfare, according to a CBRE Group report released Wednesday.<\/p>\n