Retail Resource

Creative Strategies for Backfilling Downtown Vacancies

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In this new resource, we outline six ideas for creatively backfilling vacancies in your Downtown.

We’ve all seen doom-and-gloom headlines about the retail apocalypse. And while brick-and-mortar continues to be a viable sales channel, the shifting landscape, especially the recent COVID-19 pandemic, has some industry players, particularly Downtown real estate owners and community leaders, trying to figure out how to fill their vacant retail spaces.

As traditional retailers and restaurants shutter, that space is left empty — leaving the owners to find a new tenant, which can take months or even years.

The lack of open stores in neighborhoods and Main Streets decreases property values, which has a trickle-down effect of less foot traffic and ultimately even more vacancies. By keeping storefronts active, even through a short-term commitment, the surrounding area (and rents) will benefit as well.

Remember, recruiting new restaurants and retail brands requires a holistic approach to Downtown revitalization and placemaking. Entrepreneurs and expanding businesses want to locate in neighborhoods with vitality and foot traffic. Residents and visitors don’t often think to shop or dine in an area with shuttered retail and vacant storefronts.

Which comes first and where should community leaders begin?

It begins with a strategic vision to not only identify new prospects for your Downtown, but to also address opportunities for expanding the aesthetic, vitality and vibrancy of the area. At Downtown Strategies, our Strategic Visioning Workshop does just that.

Download to start backfilling your vacancies.

A guide to creatively filling empty spaces in your Downtown.

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My relationship with the Retail Strategies team has been extremely valuable over the last couple of years as I’ve searched for sites in the Southeast. They have been persistent and provided any information they could gather for available properties that fit my criteria. If they received news that a space was coming available they made sure to immediately give me a call and connect with the owners. I would recommend using this service to any of my colleagues looking in their client cities.

Walter Kelly, Broker

Arc Realty

walter kelley arc realty

Retail Strategies has been a tremendous asset to Cypress. They have access to industry and business intelligence in an immensely competitive retail environment. The relationships they develop with commercial/retail property owners delivers results for the city because Retail Strategies excels at marketing their clients.

Peter Grant, City Manager

Cypress, CA

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