Family Video Pivots Once Again
Family Video will close about 60 Michigan locations in the next month. A decline in foot traffic and new movie releases due to COVID-19 has contributed to the closures. However, the owners will still be in the game because they own the underlying real estate. The strategy of purchasing corner properties located in close proximity to neighborhood traffic has made the properties highly desirable for future tenants.
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[…] the decline of bricks and mortar retail (especially malls), the rise of cannabis-related uses, the decline of video stores, and the long-term impact of electric and autonomous […]
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