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MBA

Professor Steve Teitelbaum was Interviewed by Business Insider

Professor Teitelbaum's comments were included in "US Drugstore Graveyard Leaves Leftover Spaces to Fill."

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The article discussed the decline that brick-and-mortar pharmacies are currently experiencing and potential uses for the space left behind as they close.

  • Pharmacies are often given front and center spots in shopping centers, as landlords historically viewed them as stable tenants.
  • Pharmacies are typically housed in buildings called 'junior boxes' which are designed to house medication dispensaries in the back and general retail in the front.
  • The loss of a pharmacy can have a ripple effect on surrounding businesses that often rely on foot traffic from the pharmacy.

Professor Teitelbaum said: "[Pharmacies] tend to have good locations on corners and as the anchor tenants in small shopping centers, so when they close, it's an obvious, in-your-face phenomenon."

Read the article here.