In today's Sun Sentinel Canyon Town Center in West Boynton was highlighted as one of the many commercial projects in our region suffering from a challenged occupancy. The article clearly points to the overall economic conditions as the reason for most of the problems, but Paul Owers the author of the piece poignantly adds that overbuilding deserves its share of the blame.
The article goes on to explain that this sluggish climate can continue for another 18 to 36 months.
For many developers a three year projection could have dramatic impact on its current tenants and ultimately on the surrounding residential community. This economic climate undoubtedly presents a troubling outlook, but may also offer an opportunity for developers to broaden their scope and market more aggressively to lesser known businesses.
Admittedly they could offer more risk, however it could ultimately provide greater reward not just for landlords, but for the larger anchor tenants that could benefit from a new and more loyal Boynton Beach shopper.
The rendering (shown above) of Canyon Town Center seems to suggests a diverse retail environment which is easily reflected in our Chamber's networking events and growing membership. If CTC developers begin to attract more unique and innovative retail outlets this could very well culminate a highly profitable and distinguishable shopping utopia.
Here's s a short list of unique retailers that are helping Boynton Beach plazas attract the coveted loyal shopper: Tropical Smoothie Cafe, Pyure Aveda, Donnino Portraits and Art-Sea Living.
For more information about Canyon Town Center contact GL Commercial leasing and management services at 954-796-4500.
Opinions expressed in this blog may not reflect an official position of the Greater Boynton Beach Chamber of Commerce.
