Liquidation boxes5/2/2023 In an earnings call in May, Dick’s executives said the company will bid for nearly two dozen Sports Authority leases - much fewer than the 80-180 analysts predicted.ĭick’s currently operates 12 stores in Colorado: FlatIron Crossing in Broomfield Southwest Plaza in Jefferson County Park Meadows in Lone Tree Belmar in Lakewood Promenade Shops at Centerra in Loveland Longmont, Thornton, Brighton, two in Aurora and two in Colorado Springs, according to its website. You’re only going to encounter so many users who want a really big box like that.” “In some instances, the landlord may be better off subdividing that box into smaller boxes. “It’s a little bit of a challenging time for big boxes,” he said. Other possible candidates include Dick’s Sporting Goods, pet supply stores, off-price retailers and warehouse-type stores, although seven years into the economic recovery, there may be fewer bites today than there would have been even two or three years ago, Severino said. Sprouts Farmers Market and the PGA Tour Superstore are among retailers that acquired some of earlier closing store leases, court records show. “But it’s a lot harder to see someone come in and say, ‘Yes, we want all 450 stores.’ ” “If they’re in good positioned centers, in markets they want to be in, I could see some organizations be opportunistic about it,” Severino said. At the time, Sports Authority had about 460 stores nationwide.Īny bidders in the upcoming lease auction will probably be highly selective in their acquisitions, said Ryan Severino, senior economist and director of research for Reis Inc., a New York-based commercial real estate research firm. Peakview Ave., Greenwood Village - were previously identified for closure when the retailer filed for bankruptcy protection in March. The chain’s three other Colorado locations - the Denver Sportscastle at 1000 Broadway, the already-shuttered S.A. Sports Authority was paying base rents of anywhere from $3.97 per square foot for its Boulder Mini Castle to $33.12 per square foot at Cherry Creek Shopping Center.Ī 28th Colorado store, a 43,568-square-foot outpost at Colorado Mills in Lakewood, is not included in the June 29 auction, because it is part of a package being sold to another retailer, according to A&G. Locally, available square footage ranges from 13,561 for the store near Highlands Ranch Town Center to 78,182 at Bowles Crossing, a regional shopping center across the street from Southwest Plaza mall in Jefferson County, according to a prospectus from A&G Realty Partners.
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