Empty Stores to be Replaced by New Retail

According to Lou Hirsh of the Press Enterprise, empty stores in the Inland Empire will soon be filled up by new retail shops.

"Slowly -- very slowly -- but steadily, new stores are arriving in the dozens of large spaces vacated a year ago by some big-chain retailers that went belly-up.

Two of the most recent examples are in Moreno Valley. Illinois-based Inland Western Real Estate Trust Inc. announced Tuesday it has leased three former Mervyn's spaces in California to Burlington Coat Factory, including one in Moreno Valley.

No opening dates were announced, but Burlington will be setting up shop at 12625 Frederick St., in the Towngate shopping center.

Not far from there, drivers passing by the empty Circuit City off Day Street may have noticed the cloth "coming soon" banner that 99 Cents Only Stores placed on the building recently. According to its Web site, 99 Cents Only plans to open in that spot in March.

In May, another empty Circuit City, at Riverside Towne Center near Galleria at Tyler, is scheduled to open as a Ross Dress For Less store.

Elsewhere in the Inland area, two former Gottschalks -- in Riverside and Hemet -- have been reborn as Forever 21. An ex-Mervyn's in Victorville, as well as a long-vacant former Macy's in San Bernardino, are also Forever 21 stores. Some locations of the defunct Wickes and Linens 'n Things have been replaced by new sellers of groceries and furniture.

Experts note that all of these new tenants are getting good deals from anxious landlords looking to get their properties out of empty status, as Inland commercial vacancies continue to rise."

Click here to read more from the Press Enterprise.

-
~Tina Jan~
DRE# 01505855
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com