Everyone talks about the "Big Box Stores"...but what about the Mid-size Box Stores? How are they doing...?
Well, apparently not real well.
A brief walkabout of my city recently showed a huge increase in vacant store fronts...and this is not a "depressed area," it's a major university town.
I really can't believe all of the "established businesses" that are just going under...throwing in the towel after decades in business.
Signs like: "We'd like to thank our many customers for 20 great years serving the community."
Etc. Etc. Sad really....
But, as the American consumer cuts back...the middle size box stores will likely suffer more, and faster, than the Big Box Walmart's or Home Depot's of the world.
And this stealth depression in mid-size commerce is visible on all sides...as "For Lease" signs are popping up in the most unexpected places...overnight!
One thing that could be aggravating this mass exodus of small retailers is the HIGH PRICE of real estate...which is relatively higher now than the realistic rent a retailer can afford to pay... Indeed I know of one case where the business owner closed a business of 24 years...despite the fact that he owned the building! The notion being that he could make more money as a landlord than as a business operator.
Many new owners of commerical property are finally "raising rents"...but discovering that their tenants are folding up and going out of business!
Call it the MIDDLE BOX BLUES!
And it's getting worse every day...
