Before the pandemic hit, manyretail landlords saw gyms as a lifeline.
"A lot of soft goods retailersthat were big anchors of shopping centers have closed their doorsas they've been impacted by E-commerce," says Nick Banks,principal, managing director and global leader of Avison Young'sretail affinity group. "Pier One is an example. As they wereclosing most of their locations, gyms were backfilling those spacesthat were left unoccupied."
The gyms didn't just fill space,they also brought energy, visibility and foot traffic to shoppingcenters, even if they tied up parking space.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
