Schuckman News / Blog

With construction at multi-decade lows and availability near record tights, retailers and restaurateurs are competing to buy vacated space out of bankruptcy — Burlington and Saks, Dutch Bros versus 7 Brew over Salad & Go, Arhaus backfilling a big box — while Federal Realty, Regency and Simon post record leasing. Ken Schuckman on the scramble for second-generation retail space.

In 2026, U.S. store openings are outrunning closings for the first time since the pandemic — and grocery, discount, and off-price retailers like Aldi and Burlington are backfilling the second-generation boxes their fallen competitors left behind.

The best story in retail real estate isn’t new construction — it’s the second life of vacated big boxes. From a former Target turned school to Costco repurposing an ex–Bed Bath & Beyond, here’s why adaptive reuse is winning.