Wal-Mart Stores Inc. is opening 11 grocery stores around Portland. The Neighborhood Market format fits into existing grocery stores and is breathing new life into long-dormant shopping centers.
As subscribers to the Business Journal can read in the current print edition, Tom Secolo of Doug Bean & Associates flagged an uptick in leasing activity along Beaverton-Hillsdale Highway and noticed the connection to Wal-Mart’s plan to install a market in a former Zupan’s there.
The good folks at Colliers International crunched the numbers and the results are notable.
In the three markets where Neighborhood Markets have opened, retail leasing is running three times ahead of the larger market. And leasing activity is running ahead of normal in areas where Wal-Mart plans to open stores but has not yet done so.
To read the rest of the story, please go to: Portland Business Journal