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Walnut Creek's popular Broadway Plaza—home to a very well-stocked Neiman's—is set to undergo a $250 million redevelopment. The entire eastern wing will be demolished next month, and the stores located in that section must vacate within the next two days. Although some larger retailers including Gucci and Tesla will relocate to vacant spaces in the mall, many of the smaller retailers are faced with leasing dilemmas.
According to the SF Business Times, Walnut Creek's retail vacancy is limited, and the available spaces are in unsuitable areas. So some of the smaller retailers, like Filthy Gorgeous and CY Louie, must move to other cities in order to reopen (that is, if they're able to reopen at all). Perhaps this East Bay situation should be added to SF's ongoing study of formula retail since it's looking like large and small retailers actually can't equally compete for space after all.
· Walnut Creek's hot retail market shuts out small stores hunting for space [The San Francisco Business Times]
· Broadway Plaza [Official Site]
· Are Formula Retail Regulations Holding the Mission Back? [Racked SF]