McDonald, an old hand at big box dispositions, says the region is sure to feel some pain at the expense of Kmart's bankruptcy. It will take time for the retailer to decide which stores will go and which will stay. But, he tells GlobeSt.com, "it's a natural progression in our business." The retail space will be filled, of that he is confident.
What Kmart store closings could bring is the stalling of some developers' plans for the region, McDonald assesses. Coupled with Service Merchandise, the news spells "a lot of empty boxes that people like me will be finding uses for," he says.
McDonald, like national forecasters, says more retailers will be following the Kmart and Service Merchandise leads as the year plays out. He takes his prediction just a step further as he slices into what is now a favorite development ground. "There will be a bunch of grocery store space become available in the next two years," he assesses, taking into account the current stable and building flurry of the popular product.
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