As banks and major retailers consolidate and close stores, many commercial real estate cynics are sounding an alarm. While it is true that the shopping center market is in a state of transition, forward-thinking real estate professionals recognize a potential opportunity.
The retail climate looks very different today than it did 10, five, or even two years ago. The former strategy of anchoring shopping centers with big-box tenants has given way to Internet-proof destination experiences that combine retail, restaurant and service offerings where consumers can gather, socialize and dine together.
Consider, for example, that in 2016, Americans spent more money in restaurants and bars than at grocery stores. Moreover, restaurant industry sales are growing, with projected sales of $799 billion in 2017. This was previously unprecedented.
As these consumer behaviors continue to shift, so too will the type of tenants driving shopping center success.
The professionals with Orion Real Estate Group work 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 firstname.lastname@example.org.