February 23, 2018
The surge in development of big box spaces challenges the assumption that ground-up retailers are a thing of the past, especially when it comes to discount retailers near new or lower-priced residential submarkets. CBRE’S San Diego Retail 2017 Big Box Report found that currently, there are:
– 21 vacant Big Box retail spaces
– 912,206 square feet of vacant space
– five stores absorbed
– total absorption of 144,146 square feet
The big chunks of big box inventory are located at Westfield UTC, where 190,000 square feet of former Sears space is available and 121,873 square feet of a former Nordstrom space is available.
Central San Diego has the highest big box vacancy at more than 416,000 square feet in six vacancies, though South San Diego, with seven vacancies, and North San Diego, with six, each have more than 200,000 square feet of vacant big box space.
For comments, questions or concerns, please contact Dennis Kaiser