January 2, 2018 Comments Off on Big Box Revival Via Medical Occupiers Views: 2482 California News, Inland Empire

Big Box Revival Via Medical Occupiers

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Inland Empire’s large supply of vacant retail big box space has been a boon to other large retail occupiers seeking space. Yet, that strategy of waiting for a single large tenant has proven troublesome for some landlords’ post-recession, and many have opted to divide large empty boxes into smaller units for multiple tenants.

Another occupier strategy quickly gaining traction is to look outside the retail sphere at medical users, according to CBRE’s latest research report. Medical users are drawn by many empty box spaces proximity to dense neighborhood populations.

The Inland Empire’s population increased at a steady rate of 1% annually, while health services sector demand grew by 4% annually. Medical office users leased nearly 158,000 square feet on average each year in the region. Landlords are willing to accommodate medical users, especially those with good credit standing, though must balance tenant mix so as not to deter other shops from moving in.

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