Strip Malls Are Among The Retail Sector’s Strongest Performers
December 14, 2017
In 2018, Commercial Real Estate (CRE) stands to be impacted by several emerging trends. Some of these factors include increased regulatory costs, others relate to technological advances and space-sharing in commercial business and co-living models. Additionally, disruptions to traditional CRE management styles will arise from collaboration and information sharing, coupled with new modes of transportation, especially in urban areas.
Take a moment to read the article below from thebrokerlist.com detailing predicted trends for the coming year and how they will impact business practices of Commercial Real Estate Brokers. Then, give us a call at Caton Commercial so that we can partner with you to take advantage of the positive changes and navigate any challenges brought about by changes in the industry.
Source bisnow.com | Re-Post Caton Commercial 12/14/2017 –
The performance of inline strip centers is holding up exceptionally well and is second to high street opportunities in performance.
The tenant mix in strip centers is a healthy mix of internet-resistant retailers and service-oriented tenants. Owners and managers of strip malls anchored by grocery stores are complementing their tenant mix with discount retailers, quick-service restaurant concepts, family entertainment options and smartphone shops. Strip malls are also benefiting from the decentralizing of medical campuses. As more hospital groups re-enter the neighborhoods where their patients live, outpatient clinics and specialized medical services such as physical therapy centers and MRI facilities have found homes in strip malls – a concept that Williams dubbed “medtail.”
CBRE Executive Vice President Richard Frolik adds that strip malls are increasingly popular with financial services firms, insurance companies, and fitness retailers. With little new strip mall construction in progress, immediate demand from tenants has revitalized strip malls, especially those that were built 20 to 50 years ago.
“The populations around these centers have grown over that time, as well,” Frolik said.