Members of Wisconsin Retail Conference leadership team spent some time with us discussing the state of the market – the challenges, the opportunities, and what they see for the future of retail.The Retail sector continues to adapt and in today’s COVID-19 world. Retail occupiers and shopping center owners are going to need to think differently.
Join Kevin Schmoldt, Newmark Knight Frank; Scott Satula, Mid-America Real Estate Wisconsin, LLC; and Nathan Powers, Cushman & Wakefield | BOERKE Co. on this pre-recorded webinar.
To view the webinar, click HERE.
Several take away from the program include:
- Not all tenants are looking for rent relief, and most are paying at least a portion of their obligation.
- There are opportunities to engineer outcomes that serve both a landlord and a tenant.
- New leasing interest is slow, but very few transactions have been suspended indefinitely.
- Retail continues to evolve – this is no exception.
- Medical, and non-traditional retail categories will continue to expand.
- Restaurants and retail will be reshaped, driven by consumer preferences.
- Factors such as a lack of qualtiy vacancies, construction costs, and challenges finding employees were holding back growth. Many retail tenants are bullish about opportunities to expand.
- Quality, existing shopping centers are in a good position – as new development is likely to lag in the near term.
- There will be good opportunities to invest, as some buyer types will turn their back retail – leaving opportunity for landlords who understand how to operate retail well.
- Investors interested in selling, and whose tenants performed well under stress – will have substantial advantage.