TAMPA, FL—Redevelopments are taking over the Tampa Bay area,with several shopping centers either beginning orwrapping up projects this year. From strip centers to malls, allkinds of retail properties are being redeveloped,but the lion's share of activity is focused on non-performingassets located in key corridors. So says BrianBern, a senior director at FranklinStreet.

“Several anchor tenants and big box chain stores have exited themarket, leaving behind spaces that are too big to backfill,” Berntells GlobeSt.com. “Landlords are being forced to reposition theirassets as size requirements and anchors have changed.”

As Bern sees it, with little new product under constructionredevelopment is a strategic way for landlords to attract newtenants to their centers. Since less class A space is available, hesays, it's important for class B and C properties to haveattractive landscaping, signage, and facades to attract newtenants. By completing even minor improvements, landlords canincrease sales and boost traffic at centers.