The changing face of retail
Retail has been one of the more vulnerable asset classes during the pandemic crisis. Landlords and tenants are facing some unprecedented challenges and legalities, with the closures of many retail stores, restaurants and shopping centers. Essential retailers look to be at an advantage, while many other retailers quickly transitioned online to keep businesses afloat.
As consumer confidence dwindles and discretionary spending weakens, shopping centers may be faced with considering a different tenant offering or adjusting the way space is used. Perhaps non-traditional retail or non-retail tenants will fill vacant space, or repurposing spaces entirely as some retailers exit their centers and others adapt to changing consumer behaviors. All of these changes come with their own set of opportunities and challenges for investors, owners, operators and tenants.
With our deep experience in the retail sector – including valuations, tax and property development, we can help facilitate this transition into the future. Explore our experience and check out our latest research and insights. We can help.
Article | The Tipping Point: Did retail’s response to trends increase the risk we face today?
By: Patrick Broome, CMI, Vice President – Property Tax | Jeremy Chitlik, Senior Director – Property Tax | Andrea McKinnon, Director – Property Tax
Published: April 2020
How we got here and what transformations will we see.
For more than a decade, the retail industry has anticipated a “tipping point” that would create a permanent shift in the way it operates. The signs were unmistakable and experts knew it was inevitable, but no one knew what that trigger might be. Until now.
That trigger appears to be the novel coronavirus — a singular event so large and destructive that its impact will reverberate through every corner of the retail industry. In this article we explore how the retail industry’s trends over the last ten years create both advantages and disadvantages as we face COVID-19.
PODCAST: Peterson Companies and the Impact of Commercial Real Estate Taxes on Retail Development
Jan 18, 2017
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