In reading an article from Trafic Court I realize there is an opportunity that many are not taking advantage of in this market. Some of the "big box" retailers in our market have closed down their location and how there is a big empty space to fill and given the current condition of the market, most of them are still empty. We as real estate professionals are asking ourselves how can we fill those spaces? who would fit best in that location? Well...
What Julia Christensen found in a recent research assignment was that many big box spaces especially the old Wal-Marts and Kmarts have been put to a new use and often times by a nonprofit organization, church group, or community group. These groups want lots of space and for a low price with good exposure or access. So these spaces are a perfect fit for them. She also found out that schools, libraries and health clinics are a good fit for the spaces as well. Wal-Mart has stated that at least 16 of its stores have been converted into churches since 2002.
So...does your organization or church have a need for more space? If so, now is a great time to take advantage of the numerous opportunities out there! Please feel free to email me (katie@thekimgroup.com) or call (309) 208-2898 to discuss some of the opportunities that are out there for your group. I can also help you with the space build out design. So you can see what your space could look like.
Written by Katie Arnholt Kim, katie@thekimgroup.com, Director of Commercial Division for Keller Williams Premier Realty. www.thekimgroup.com.
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