Talk about Retail
Despite the strong growth in retail sales in 2017, the retail real-estate market continues to be roiled by trends that look to pick up steam in the future. Mall occupancy rates the world over are taking a beating as e-commerce continues to power ahead unabated.
Filling those retail vacancies will only get harder, suggests a report from the Advisory & Consulting group of Green Street Advisors. While there are emerging retailers looking to open physical locations, the report notes that these new tenants are being choosier about locations and opening stores at a much slower pace than in the past.
Malls are at an inflection point. The old mall business model is in the scrap heap and reinventing a new type of mall out of the old bones of yesteryear’s mall takes significant investment, creativity and time for planning.
