Older, grocery-anchored centers face difficult decisions

05/24/2010 | Sarasota Herald-Tribune (Fla.)

Work has begun on a new, multi-level Publix supermarket in Sarasota, Fla. The grocery store plans to occupy space at the Herald-Tribune's former site on Tamiami Trail. The retail center it is leaving, though -- the Ringling Shopping Center -- will see its vacancy rate rise to 65% when the grocery store leaves. The Ringling center is one of many older grocery-anchored centers facing a dilemma: Should its owners pay for an expensive renovation, knock it down and start over, or simply sell?

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Sarasota Herald-Tribune (Fla.)

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