News
Senior Housing Could Be Coming To A Shopping Center Near You
December 14, 2017
Senior housing could debut inside of former retail spaces
As struggling retail centers search for tenants, senior housing spaces could take over and repurpose the shells of big-box retail spaces.
“Large boxes are not being re-tenanted for like-kind users. They are being repositioned,” Faris Lee Investments Senior Managing Director Gene Ventura told Senior Housing News.
For the owners of empty retail spaces, a move like this makes a lot of sense, especially considering senior housing’s strength as an asset class. Transitioning from retail to senior housing can bring spaces back to cash-flow status, Ventura said.
Additional benefits to converting these spaces include leveraging retail’s proximity to people and the common phenomena of undeveloped land around shopping centers, according to Ventura.
