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As Omicron Bears Down on Retailers, Landlords Get Creative to Fill Space

The Omicron variant of the coronavirus may throw a wrench in the recent commercial real estate recovery, and landlords may need to extend temporary measures to fill empty spaces, reports the New York Times. Already, visits to some businesses, like coffee shops, have declined, according to a new report from Coresight Research, which tracks the retail sector, as people avoid public spaces. And although it is too soon to say what the variant’s ultimate impact on real estate will be, some landlords are already adjusting their expectations and trying some novel ideas:

  • To bring in some revenue, some landlords have given storefront windows over to digital advertising.
  • Other landlords are allowing their empty windows to be filled with artwork — efforts that generate good will and make vacant spaces look less bleak.
  • Some landlords welcomed pop-up retailers, and not only during the typical holiday season.

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