Weitzman Group Shifts Retail Strategy Toward Fitness and Discount Grocer Anchors

Herb Weitzman, executive chairman of Weitzman, highlights the shifting strategy in retail leasing, noting that modern anchors now frequently include service-oriented businesses and restaurants rather than traditional department stores. By analyzing foot-traffic data at three specific properties, Weitzman illustrates how strategic backfilling of vacant anchor spaces significantly increases consumer activity.

At Buckingham Plaza in Garland, the addition of a 22,000-square-foot Ross Dress for Less helped boost quarterly traffic from 122,000 to nearly 200,000 shoppers. Addison Town Center saw traffic grow from 825,000 to over 1.1 million after filling a 37,300-square-foot vacancy with EoS Fitness. Additionally, Metroplex Plaza in Irving experienced a massive surge, with traffic climbing from under 90,000 to nearly 600,000 following the opening of a 62,000-square-foot Joe V’s Smart Shop.