Retail in and around Columbia’s downtown is recovering faster from the recession than former suburban hot spots, a new report says.
More stores have gone or stayed dark over the last 12 months in Northeast Richland, Lexington and Irmo than in the downtown and Forest Acres areas, the report from Grubb & Ellis Wilson Kibler said.
Many of the retail openings in the past year have been in medium-sized spaces, between 5,000 and 20,000 square feet, said Ben Johnson, the firm’s research manager. The larger stores that have gone dark are harder to fill, he said.
“Most of your big box spaces are in the suburban markets,” he said.