Retail Landscape Changing in Sioux Falls
SIOUX FALLS, S.D. – The retail landscape in Sioux Falls is changing.
K-mart has already closed both its stores in Sioux Falls, Gordman’s is about to do the same, and there are questions surrounding other retailers in the Sioux empire.
While some jobs are already gone, one commercial real estate company says not all is lost. We take a look at the future of brick and mortar businesses.
“There are national retailers that are not in Sioux Falls, that want to be in Sioux Falls, “says Commercial real estate Senior Broker Associate Scott Blount, of Lloyd Companies
Sioux Falls shoppers have had to say goodbye to four retail stores so far this year and although that means lost jobs for employees. Developers say in terms of the landscape it actually helps the city.
“So, I think backfilling those spaces we will see it done in fairly short order, I believe. I don’t think it will take a long time, “says Blount.
Blount is a commercial real estate broker for Lloyd companies; he says part of his job is to help other businesses fill the vacant buildings looking to enter the competitive market rather than start from scratch.
“It’s a means for them to enter a market at a much more financially competitive way than if they had to build a store that big, “says Blount.
Although 41st and Louise is a great location for retail stores, other landscapes are catching national retailer’s eyes.
“Well certainly in Sioux falls areas of growth, Lake Lorraine is an area of growth. There is a lot of construction going on over there, big box retailers going in over there, “says Blount.
As the future of brick and mortar retail stores is uncertain, others are looking at the changes as a positive.
“Things come and go; I think it’s healthy the turnover is healthy. It keeps things vibrant, “says Blount.
The same company that operates K-mart says there is doubt about Sear’s future.
Macy’s and JCPenny have recently closed dozens of stores nationwide.