Despite doomsday forecasts, brick-and-mortar retail is not going away anytime soon. Ninety percent of retail sales continue to take place in a physical store, and, according to research advisory firm IHL Group, in-store sales increased more than $100 billion in 2017, when retailers opened 4,000 more stores than they closed. However, this is not to say that retail is not in the midst of a change; it is. Perceptive retailers and commercial real estate investors must recognize this disruption and prepare now not only to survive, but also to thrive in the future.
Future-proofing retail requires consideration of a broad range of factors, including the rapid evolution of technology and tech-enabled buildings, the emergence of driverless cars, the rise in demand for delivery services, the need for larger storage/warehouse space and new supply chain technology. In addition, commercial real estate investors must consider how these disruptions will ultimately affect their ability to better market and sell a property in an uncertain future. By collaborating with experienced real estate professionals who manage all aspects of commercial property development, build out and sales, investors will be better prepared to navigate successfully through changing market environments.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email email@example.com.