Franklin Street: How to Navigate Current Retail Challenges and Future Opportunities

by Sarah Daniels

At the ICSC LAS VEGAS 2024 conference, Nelli Day of Retail Insight interviewed Monetha Cobb, chief marketing officer, and Greg Matus, senior vice president of investment sales, of Franklin Street, to discuss the prevailing challenges and future trends in the retail industry.

Key Challenges in Retail

The primary hurdle in the retail sector is the fluctuating market and rising interest rates, which have significantly slowed down transactions. Investors and developers are finding it tougher to secure deals as banks enforce stricter lending criteria. Despite a slight uptick in activity, recent interest rate hikes have again dampened momentum. Uncertainty surrounding upcoming elections adds another layer of complexity.

The investment landscape shows a mixed picture, says Matus. Multi-tenant retail sales are progressing. However, interest in single-tenant buildings has slowed down considerably due to high interest rates. On the occupier side, demand persists, especially in certain thriving markets. The scarcity of supply has heightened the importance of strategic partnerships and innovative approaches to mitigate risk.

Mixed-Use Developments: A Strategic Focus

Franklin Street has pivoted its focus toward mixed-use developments, recognizing the evolving needs of modern consumers. These projects require a comprehensive understanding of various asset classes and how they interplay. The company has made significant strides in repositioning lifestyle centers and open-air centers from the 2000s, adapting them to contemporary consumer preferences for gathering spaces and entertainment options.

The Role of Data and Talent

Information plays a crucial role in navigating the retail landscape. Access to real-time data allows retailers to make informed decisions, quickly adapt to market changes, and optimize operations. Additionally, identifying and leveraging the right talent is vital. Franklin Street has expanded its team to enhance its capability in serving clients and executing deals effectively.

Watch the video to learn more about how Franklin Street is making decisions within the retail sector with an eye toward retail evolution, strategic partnerships, innovative mixed-use developments and data-driven processes.

This video was created as part of the Retail Insight newsletter by Shopping Center Business, a brief newsletter series leading up to the ICSC LAS VEGAS 2024 conference and including post-conference video interviews. The videos in the publication are created in conjunction with our content partners, which sponsor the newsletter. Click here to subscribe.

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