Electronics Retailer Leases In-store Space
Consumer electronics retailer Best Buy is subleasing space within its 46 stores in Southern California to smaller retailers interested in vending areas with high footfall.
Consumer electronics retailer Best Buy is subleasing space within its 46 stores in Southern California to smaller retailers interested in vending areas with high footfall. The leased, in-store retail space will be available to an array of merchants, including grocers, beauty- supply stores, and home-furnishing outlets. Best Buy will benefit from renting the space, while merchants will gain a foothold in a prominent area. The decision is estimated to cut the retailer’s floor space over 20% across participating stores in Southern California, and is expected to represent the start of a scaling back effort nationwide.
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