Is Your Retail Space Vacant? Here Are Five Unexpected Ways to Fill It.
For those of us who live and work in cities, it’s a familiar sight—office buildings with empty retail spaces at the ground floor, a side effect of the move to hybrid and online work. Independent retailers and mom-and-pop shops have shuttered at an alarming rate due to lack of office workers in downtowns—and though foot traffic has recovered some, it remains 10 to 20 percent lower than pre-pandemic levels according to research done by McKinsey.
A growing number of building owners are turning to unexpected tenants to fill these spaces, especially as they contend with a workforce that increasingly seeks more unique experiences and outside-the-box amenities. Instead of chain stores, interactive, community-driven solutions that consider the location, needs and makeup of the neighborhood—and provide mutual benefits for developer, tenant and community—are cropping up across the country.
Here are a few of our favorite examples of creative uses for vacant retail spaces.