June 10, 2016
Connect Retail is our weekly column on the sector, authored by veteran CRE writer Ian Ritter.
There has been a lot of news about the issues of big-box stores, such as electronics retailers and major book and media stores. But there are some very serious retailers offering experiential retail to consumers.
One great example of this is , a venture of ultra-smart investor Warren Buffett. The chain doesn’t have many locations, but has a huge following by consumers. And the stores are huge. The Nebraska Furniture Mart in Kansas City, KS measures 1.1 million square feet. Not to be outdone, Texas’ NFM store, about 20 miles north of downtown Dallas, is approximately 1.3 million square feet.
Another chain gaining traction is the sporting goods store . The standard Scheels measures between approximately 200,000 square feet-300,000 square feet. These stores have climbing walls for children, as well as play areas . . . and even a Ferris wheel. While the kiddos play, adults dine and make their purchasing decisions.
What do you think about these super-sized stores and their business potential?