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August 6 - 19, 2021
wilmingtonbiz.com
Greater Wilmington Business Journal
| REAL ESTATE | Area retail trends include new stores BY CECE NUNN hile national chains have faced bankruptcies and closed stores for the past couple of years, some parts of the Wilmington area are attracting more retail space and tenants. More than 8,000 stores in the United States closed last year, and experts predict 10,000 could close in 2021, according to a Business Insider article. Locally, although spaces emptied in some shopping areas throughout the region last year, other retailers are calling Wilmington home. “I think the local retail market has been resilient,” said developer Dean Scarafoni of Live Oak Development Co. “One reason is the number of new people moving into the area, many of whom are looking to start or relocate businesses.” His company’s projects include The Crossroads at Independence in
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PHOTO BY CECE NUNN
Opening soon: Burlington Stores is set to open a Wilmington location off New Centre Drive.
