Now open - a temporary indoor pickleball center

In a 33K sf former grocery store vacant since 2019

It took Blaze Pickle a few weeks to install 7 pickleball courts in the former Local Market in Newington, CT

It offers open play, clinics, lessons and tournaments - just for the 6 mo. lease period

Seeking a user to backfill a vacant drugstore?

Natural Grocers $NGVC would like to take a look

Many of the #grocery chain’s 168 stores are in “2nd generation” space vacated by other retailers like Walgreens $WBA

And its first Waco, TX store is opening soon - in a former $CVS

A former Kmart in North Hollywood, CA is being repurposed as a Tesla showroom and service center

The 117,000 sq ft building will include a collision center, paint booths and a large indoor area dedicated to car delivery and customer pickup

A former bakery is becoming a U-Haul storage facility?

$UHAL is repurposing the former Ward Bakery in Youngstown, OH into ~800 units of climate controlled self storage

The bakery building was built in 1923 but closed in the 1960s and was most recently rented by artists

In Q3 2024 $TJX opened 56 new stores

Most were 2nd generation backfills of vacated Big Box retail
space

But some were even more creative repurposes:

Like the Marshalls store that opened in Lehighton, PA

It is an adaptive reuse of the former 8 screen Mahoning Valley Cinema

A "double bankruptcy" for this Landlord:

Bed Bath & Beyond closed its Pueblo, CO store after filing for bankruptcy in Apr 2023

LL leased the space to American Freight in Oct 2023

But American Freight is now BK and closing all stores

Which will leave the suite vacant for the 2nd time in 2 years

Advance Auto Parts is closing ~700 stores

So what happens to the real estate?

The good news is that many stores are freestanding, 7-8K sf buildings on high traffic roads w/good visibility that can be repurposed for many uses

The bad news is there is no major tenant or retail category to backfill

U-Haul is the 3rd largest self storage operator in North America with >1 MM units and 85 MM+ sf

And much of it was created via adaptive reuse

Especially of former Kmarts

U-Haul has repurposed >120 former Kmart buildings

Former Kmarts account for ~15% of U-Haul's self-storage space (12 MM+ sf)

From grocery store to car dealership:

Jeff Wyler Honda of Louisville, KY acquired a 65K sf former Kroger #grocery store and anchor to the 44K sf Dixie Shopping Center

It then transformed the former Kroger into a dealership and service center

And is now the new anchor to the adjacent #stripmall

Bankrupt retailer Big Lots is closing at least 500 stores

So now what happens to this real estate?

Other retailers could move in

But some stores may be redeveloped via #adaptivereuse

Like this former Tucson, AZ Big Lots store

It is being repurposed for auto body repair by Caliber Collision