When a big box retailer goes under, the resulting empty property can stay that way for a long time. That's because many big box parents are reluctant to sell off the shuttered property for fear of giving competition a place to roost. But this dynamic creates an opportunity for the enterprising developer or retailer.
This Web site is simple: It tells the stories of how sixteen hollowed-out Wal-Marts, Home Depots and other retailers were converted into new uses including a church, art school, and the Guitar Center outlet. In the latter example, the major national chain of guitar outlets was able to persuade Home Depot to sell the property—HD doesn't sell guitars yet.
What works in favor of a big box conversion? They are often in prime locations, are easily adaptable to new uses, and come with acres of parking. The downsides: With few windows they can be dreary, the space to deal with is huge, and the purchase process can be drawn out depending on how many owners are involved with the property.