Empty video stores provide retail space

Hollywood Video and Blockbuster have closed many Portland-area stores, leaving retail space that is quickly being filled.

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When video rental retail chains Hollywood Video and Blockbuster began closing Portland-area stores. real estate professionals expected that it would be difficult to fill the empty spaces.

Instead, the empty spaces are quickly being filled.

Both Hollywood and Blockbuster tended to set up retail stores near supermarkets, to draw ample foot traffic. Stores also were often situated near major streets, with good sight lines for drivers passing by.

Those factors have helped prospective tenants look beyond the overwhelming size of the retail spaces. A former Hollywood Video or Blockbuster space, on average, is between 5,000 and 7,000 square feet. But several of those spaces were leased when landlords divided them into two or three smaller spaces, [senior vice president of Urban Works Real Estate Dan] Bozich said.

Read more at the Daily Journal of Commerce.

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