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.