Off-price retailers TJ Maxx, HomeGoods and Ross have scooped up some of the 400 spaces being vacated by Bed Bath & Beyond as it strives to avoid bankruptcy, reports CNN Business. Beyond that, Burlington, Five Below, Nordstrom Rack and budget gym Planet Fitness may also take over the spaces, retail landlords and real estate analysts told the cable news network.
The BB&B closures mean “a lot of great real estate is going to come available into a market where there’s been no vacancies,” Brandon Isner, head of retail research at commercial real estate firm CBRE told CNN. “It will not take long for retailers to occupy those spaces.”
Similarly, Telsey Advisory Group said in a note to clients that “there is good interest for Bed Bath & Beyond stores that are closing, given [their] desirable locations” and an average size of about 30,000 square feet.
