Retail real estate has more than just a slight emphasis on the property portion of the retail landscape. Since most shopping center players have had that part of the equation down pat, many of these real estate experts are now focusing on their counterpart. They’re ramping up their online, social media and other technology-driven strategies to create a well-rounded omnichannel approach that caters to a wide array of customers. This hasn’t taken the focus off brick-and-mortar storefronts, however. Not by a long shot. While it is true that the internet …
Retail Insight
Ralph J. Conti, principal and managing member of Atlanta-based RaCo Real Estate, is a development partner on Celebration Pointe, a 1-million-square-foot, mixed-use development in Gainesville, Florida. The 160-acre project includes office and residential components, along with a barrage of retail, restaurant and entertainment offerings that continue to roll out on a regular basis. Retail Insight sat down with Conti recently to discuss the future of retail development and whether we will see more mixed-use projects with diversified retail offerings in the near future. How can shopping center landlords and tenants …
Retail leasing is typically viewed as a long-term commitment. After all, these deals take a great amount of work, and all parties must come to the table confident this will be a mutually beneficial relationship for years to come. Fast fashion and foodie trends may change, but the long-term viability of shopping center owners and tenants is dependent on their ability to both adapt and stay the course. Like everything else in business, however, balance is key. Expand too fast and a retailer risks alienating customers. Sign today’s trendiest tenants …
Scott Holmes, national director of retail in Marcus & Millichap’s Phoenix office, noted in his last Retail Insight Q&A that the national retail vacancy rate at the end of 2017 was 5.1 percent. Holmes and his team believe this rate may hit or even fall below 5 percent this year. Retail Insight sat down with Holmes once again to discuss this trend more in depth, particularly as news surrounding store closures, consolidations and threats from e-commerce continue to swirl.
Some of today’s hottest retail concepts are discovering what companies like Warby Parker, Bonobos and Amazon already know: that a truly effective omnichannel experience cannot be achieved without a physical presence. “Having an omnichannel marketing campaign increases sales on many fronts,” says Christopher Maling, executive vice president of retail investments in Colliers International’s Los Angeles office. “These strategies are based on demographics and age, among other things. Some shopping habits are set with the need to purchase in a physical brick-and-mortar environment, and then there are those consumers who are more comfortable …