the urban prospector

Searching for Golden Opportunities in America's Cities


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Small Storefronts Result in Resilient Retail

This shop is the result of a combination of two pre-existing retail spaces. If this store falls on hard times, it can shrink into one half of the space leaving another small storefront available for a new tenant.

This shop is the result of a combination of two pre-existing retail spaces (notice the structural support running down the middle of the store). If this store falls on hard times, it can shrink into one half of the space leaving another small storefront available for a new tenant.

With the current recovery and reurbanization of the US, there is a lot of construction in old industrial cities and suburbs that are looking to be more dense and walkable. As can be seen in places like Jersey City, the retail component of these buildings often involves larger spaces. This poses a challenge because it sets a higher threshold that a business has to cross before it can afford to rent the space. It is much cheaper to rent 500 square feet than 1000 square feet. There are two problems that result from this. First, there is a smaller pool of businesses that can afford to rent such a place. Typically these are larger more established companies and often are larger chains. Secondly, these larger spaces make it more difficult for a new company to get a foothold in the market. Continue reading

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