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February 25, 2011
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| Our panelists at Wednesday's Bisnow Retail Summit had more to say on how vacant urban retail is getting backfilled with several small big box stores. Sierra's Rob Rowe (center) said that Target spent three years trying to figure out a good space to get into theurban core of Chicago. A lot of retailers are hesitant to move into complexes that don't have parking readily available, says Next Realty's Andy Hochberg, adding that 85% to 90% of successful shopping centers have front-loaded parking. While Friedman Properties' Jason Friedman says parking is important, he doesn't think it has to be directly attached to the retail, just near enough so people don't have to take public transit. After all, this isn'tManhattan, most Chicagoans own cars (not that we're bragging). |
