What goes up?
A recent study by Colliers International, one of the worlds leading commercial real estate companies, determined that roughly 120 million square feet of big-box retail space has been vacated since January 2008 — a space equivalent to 29 Mall of Americas.
Demolition of the Kmart store in New Hope is expected by this winter, Hemken said, and some tentative talks have taken place with developers who may serve as prospective partners. “A developer will know what kind of project can get funded. We know what we want, but they can tell us what can be accomplished.”
Read the whole article: Big boxes at a crossroads | StarTribune.com.