What to do with empty suburban 'big box' stores

The Daily Herald reports:

Industry analysts say there are more than 220 empty anchor spaces totaling more than 10 million square feet of space in the Chicago area. Anchor spaces are typically larger than 20,000 square feet, said Joe Parrott, senior vice president of retail services for CB Richard Ellis in Bannockburn, which represents landlords. Big box stores are typically 50,000 square feet or larger.

In a recent report, Parrott said more than 40 percent of the anchor space made available in the first quarter of this year is attributable to six tenants: Circuit City, Linens 'n Things, Wickes Furniture, Expo Design and Steve and Barry's. Over the past year, 47 anchor spaces were filled, totaling 1.9 million square feet.

At that rate, it will take five years the fill all of the available anchor space already on the market, assuming no new vacancies are added.

You'll want to read this one.