Kohl’s downsizing Siegen Marketplace location, leasing 24,000 square feet
Kohl’s is downsizing four of its Louisiana locations, including the Baton Rouge store on North Mall Drive near Siegen Lane.
More than 24,000 square feet of the 95,000-square-foot store is for lease, according to a listing from Corporate Realty. Lease rates are not included on the flier. Kohl’s would retain the remaining 74,000 square feet of retail space, the flier says.
The move is part of a previously announced “rightsizing” program for the Wisconsin-based retail giant. In 2017, Kohl’s downsized nearly half its 1,100 stores, a trend that is continuing in 2018. The move is designed to enhance store profitability and improve customer experience, according to a company press release from August.
Kohl’s has also opened smaller format stores in select states and expanded its five e-commerce fulfillment centers, as revenues come increasingly from online sales. Local real estate brokers say the changes are unsurprising in an era when online shopping is driving entire malls and shopping centers out of business.
“It’s just a sign of the times,” says Mark Hebert of Kurz & Hebert Commercial Real Estate. “It’s all about how to repurpose your retail buildings for your highest and best use.”
Still, Corporate Realty’s flier plays up the Kohl’s site in “one of the highest growth trade areas in Baton Rouge,” and notes its proximity to other big box retailers like Walmart, Sam’s Club, Lowe’s and Toys R Us. Other Louisiana Kohl’s locations being downsized are in Covington, Shreveport and Monroe.