WALNUT CREEK, CA -- Net-leased
retailers of all sizes will focus on generating greater sales within existing or
smaller footprints this year, according to new research from Marcus &
Millichap.
CVS Caremark and Walgreens are exploring scaled-down floor plans to squeeze
into infill locations where population density supports a higher number of
visits.
Along with other drugstores, these industry giants remain focused
on competing with convenience stores by offering a limited selection of
groceries.
At the same time, clinics
within existing facilities that offer primary healthcare options are considered
as a strong future revenue generator.
In fact, CVS is confident
enough in the model’s potential that the firm announced plans to eliminate
tobacco products from its stores, erasing an estimated $2 billion in annual
sales.
Big-box retailers, which
have been slower to install clinics, are maintaining plans to delve into the
patient care arena in greater numbers, along with several grocery chains.
While healthcare is a
potential windfall for net-leased retailers, the impact on the middle class
from the recession continues to take a toll.
Darden, for example,
announced plans to divest Red Lobster,
which will likely lead to store closings. The major dollar stores, however,
plan on opening more than 1,200 new locations this year, indicating ongoing
frugality among many Americans.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
(925) 953-1700 ext. 1716
(510) 999-1284 mobile
(925) 953-1710 fax
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