ATLANTA—Owners, developers, retailers, brokers, lenders, municipalities, property asset managers and product and service providers are gather under one roof to exhibit, make deals and form successful business partnerships at the ICSC Southeast Conference Nov. 1-3. The conference is set for Atlanta.
GlobeSt.com caught up with Emil Guillia, senior director at Franklin Street, to get a sneak preview of his expectations of retailers this year. He also shares how retail has changed in the face of e-commerce and how it will continue to evolve in the coming years in this exclusive interview.
GlobeSt.com: What are you anticipating for ICSC Southeast?
Guillia: I am anticipating that we will continue to see retailers downsizing and looking for smaller store footprints, and there will be an over expansion of restaurants in some markets, particularly where QSRs have been very aggressive. Some of the mixed-use projects that are proposed either won’t get built or will be postponed as I believe the vertical rental market will crash next summer.
GlobeSt.com: How has retail changed due to e-commerce and how will it continue to impact the industry during the next five to 10 years?
Guillia: Retailers will rely on customer analytics acquired via social media and e-commerce channels to make real estate decisions more than ever. The role of the distribution centers will factor into the retailers proforma more than in the past due to the reliance on not all inventory being kept in store.
Brokers will be required to secure information from cell phone apps to supplement the decision logic needed to make the right real estate decisions. Developers will be pressed to explain why their property is relevant beyond its location alone.
They will be counted on to integrate programming and technology as a means to keeping people on site longer. Social media, program and marketing managers will be a bigger part of both the retailers and developers in house personnel.
View the original story here: https://www.globest.com/sites/jenniferleclaire/2016/10/20/will-the-vertical-rental-market-crash-next-summer/?slreturn=20160920100303
