Every few years the local shopping centers, or strip malls, renovate the facades and give the stores new signs. I don’t know much about commercial real estate, so I don’t know if the retailers have any say in this or are required to pay for it. I expect that it is paid for by the landlord to bring some excitement – and foot traffic – to the stores. I can’t imagine that the inconvenience of construction and what is essentially a new coat of paint changes how consumers think of these stores.
Do Renovations Drive Foot Traffic?
