The surge of big box store closures this year has left many storefronts empty across New England. With almost 3,200 chain closures nationwide since the start of the year, some landlords are seizing this opportunity to change the landscapes of their retail spaces choosing new tenants that enhance the consumer experience. Each closure has the potential to serve as a fresh start for landlords, tenants, shopping centers, and communities.

For example, The Wilder Companies, a long-time Hinckley Allen client, recently took advantage of the closure of a Bed, Bath, and Beyond in Pennsylvania’s Silver Spring Square replacing it with L.L. Bean and J. Crew Factory stores. These new stores will fit in seamlessly in the vibrant, open-air shopping center that serves as a hub for the community.

Our attorneys have also assisted other clients fill multiple anchor tenant locations with retailers that best align with the needs of a particular community. Tenants that have the capability to transform the way to shopping area is used and the overall trajectory of that location.

Leases for big box stores and anchor tenants demand experienced real estate counsel. These leases are complex contracts that dictate everything from cost per square foot to parking spaces. Our multi-faceted real estate attorneys offer a deep understanding of the dynamic landscape and a reputation for collaboration that has allowed them to efficiently negotiate and close some of the region’s most significant and complex transactions, bringing communities to life.