Tough times call for big names in retail market

From the St. Louis Business Journal. Friday, May 2, 2008
By Chris Birk
Grocery-anchored centers remain steady during downturn

Anchored by a bustling Schnucks grocery and a 124,000-square-foot Target, the once flailing Northland Shopping Center in Jennings now boasts a 99 percent lease rate a year and a half after reopening.

The refurbished center serves as a prime example of how corners of the retail market are weathering the housing market slowdown and the overall shift in the national economic climate: Big hubs with big names may provide the best bet. Along with its core anchors, what's now known as the Buzz Westfall Plaza on the Boulevard, which is owned and managed by the Sansone Group, also has tenants such as Starbucks, Foot Locker, U.S. Bank and National City Bank.

Grocery-anchored centers and infill areas linked to stable populations continue to lead the way.