Is Your Small Biz The Next Big Thing At Your Local Mall?

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Is Your Small Biz The Next Big Thing At Your Local Mall?

Sep 14, 2009
Posted by Molly Nelson - When considering possible locations for your small business, have you ever thought about your local shopping mall?  According to this article from the Orlando Sentinel, some malls in Florida are welcoming local small businesses to help fill empty storefronts left behind by downsizing or bankrupt chain stores. 

According to the article, "regional malls and shopping centers had an average vacancy rate of 8.4 percent" in the second quarter of 2009, "the highest rate since [real estate research firm Reis Inc.] started collecting numbers in 2000."

In addition, "the average annual rental rate for malls has dropped from $25.83 per square foot to $17, according to real estate information company CoStar Group Inc."

Some of these numbers - as well as changing attitudes from mall management - might make moving business into a mall an attractive proposition for small business owners. 

Would you consider moving your business into space in a mall?  Has your business moved into a mall recently because of open space and a good deal?  Let us know in the comments.

Hat tip: Fresh Inc., Orlando Sentinel

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