Newspaper article The Florida Times Union

Setback for Shopping Centers, Too; but Some Commercial Real Estate Analysts Say New Tenants Could Step In

Newspaper article The Florida Times Union

Setback for Shopping Centers, Too; but Some Commercial Real Estate Analysts Say New Tenants Could Step In

Article excerpt

Byline: Roger Bull

When 20 Northeast Florida Food Lions close at the end of the month, the effects ripple in many directions. Employees lose jobs. Shoppers lose stores. Vendors lose customers.

It will also leave 20 gaping holes in shopping centers all over the First Coast. And big spaces aren't always easy to fill.

It's been 15 years since the last 19 Pic N' Saves closed in Jacksonville, and some of those spaces still don't have tenants.

"It just depends," said Gary Montour with commercial brokers Colliers International. "There are some in retail centers that are great areas. You can probably put in another retailer there."

He mentioned clothing stores T.J. Maxx, Marshalls and Ross Dress for Less as possible tenants for the 25,000 to 29,000-square-foot spaces that Food Lion is leaving.

Montour pointed to a former Food Lion on 103rd Street that is now a medical center.

But often those spaces are going to have to be broken up. A former Winn-Dixie on San Jose Boulevard in Mandarin went through a variety of temporary tenants until it was divided into an AutoZone, Ollie Koala's and School Aids. …

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