Region’s Retail Sector Rebounds, Except Big Box Stores: “It’s Been a Very Good Year” | Northwest Indiana Commercial Securities


Northwest Indiana also lost Family Video, which fell victim to the proliferation of streaming services like Netflix, Hulu, Peacock, Paramount+ Amazon Prime, Apple TV+, Crackle, HBO Max and Disney+. The video rental store, which once had 700 locations and 10,000 employees across the country, kicked off the end credits of its last remaining locations in northwest Indiana in Dyer, Valparaiso, Highland, Hobart and LaPorte when it closed.

Northwest Indiana lost 10 bank branches as banks closed a record 3,324 physical branches across the United States, largely due to a generational shift to online banking and digital, according to business intelligence data service S&P Global Market Intelligence. Chase, First Midwest and others closed brick-and-mortar locations as the number of banks in Lake, Porter, LaPorte, Jasper, Newton, Starke and Pulaski counties fell from 257 branches a year to 247 branches Last year.

Shopping centers in the Calumet area also struggled. The Southlake Mall was foreclosed and auctioned, but remained under the same management. Another anchor, Dick’s Sporting Goods, has gone, crossing the street to a more prominent location on US 30. The Lighthouse Place Premium Outlets in Michigan City – home to outlet stores from top retailers like Brooks Brothers, Kate Spade New York City and Le Creuset – saw around 20% vacancy in 2021, compared to 99% occupancy in 2015 and 93% occupancy during the Great Recession.


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