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There May be Hope for Small Regional Retailers After All!
By Doris Bentley
In the highly competitive world of retail sales, it's difficult for inexperienced entrepreneurs to turn a profit when the cost of renting a store or shop is so high. But regional retailers don't need to look any further now than the Bradford Retail Cooperative building, opening on March 1. -[1]-.
The cooperative is located in the building formerly occupied by the Mega-B-Mart superstore on the outskirts of Bradford City. In partnership with the city government, Phoenix-Star Properties has updated the structure and renovated it to house 160 small retail booths. Director of Phoenix-Star, Brenda Nixon, said, "the old structure was an eyesore ever since the store it once held went bankrupt. -[2]-. Through a very small investment, we have been able to revitalize the building into a location that is not only useful to the community but will help improve local economic conditions as well."
Phoenix-Star Properties provided half the funds for the structural changes, and the rest came from the city development budget, which is funded by local taxes. -[3]-. "We are really excited about the opening! And given Phoenix-Star's incredible success doing similar projects with other abandoned buildings in locations across the country, I am sure we will experience the same popularity here," said city government spokesperson, Beatrice Guzman.
The retail units will be available for rent to artisans, craftsmen, and private businesses owners from the region. With rental rates starting at as low as $500 per month, Phoenix-Star has confirmed that 90 percent of the spaces have already been filled. It seems clear that the Bradford Retail Cooperative building is already popular with local entrepreneurs. -[4]-.