By: James C. Auld • AIA • CDP
One size never did fit all in the marketplace, although the astonishing number of look-alike shopping centers and strip malls would belie the fact. As we work with our clients to reshape the retail landscape, we see the demand for a variety of shopping solutions tailored to the needs and aspirations of different communities, generations, and individuals as well the business goals of investor, developers, and merchants.
Retail as Amenity
Large-scale mixed-use centers benefit from the synergy of their uses. Workers in the office towers live in the multifamily residences, while the hotel provides accommodations for out-of-town visitors. At the heart of it all is the retail center where everyone gathers to shop, dine and mingle. It is the amenity that supports all of the other uses and bringing color and activity to the complex.
Savvy investors and developers seek to optimize asset value. For the owners of retail properties that means staying ahead of changing market demand. From simple facelifts to major expansions, redevelopment helps developers and retailers retain market share, reposition a property or completely reimagine their offering.
Retail Real Estate Reimagined
The long reign of the department store as the most powerful player on the stage is ending as major retailers announce the shuttering of stores. While the real estate, whether an anchor in a mall or a free-standing building, is no longer viable as retail, it is a potentially valuable asset for the owner. What does the market need now? Office space, housing, a mix of eateries and entertainment?
James C. Auld, AIA, CDP