Emil Guillia, senior director at Franklin Street
ATLANTA—ICSC is just around the corner. That means plenty of talk about the past, present—and especially the future of retail.
GlobeSt.com caught up with Emil Guillia, senior director at Franklin Street, to get a sneak peak and some insights into the discussions in part two of this exclusive interview. You can still read part one: Will The Vertical Rental Market Crash Next Year?.
GlobeSt.com: You are moderating a panel on the evolution of retail during the conference, what are some of the most visible changes in the last decade?
Guillia: E-commerce and technology are allowing owners and operators, as well as retailers, to be more savvy about real estate decisions in a way we haven't seen before. Regional influences from coast-to-coast will shape a retailer's offerings in a market to set itself apart. This will drive people to see what is offered in Chicago that is different from what is in San Francisco as consumers' favorite stores.
Reliance on transportation design and diminished parking requirements continue to evolve as mobility and product delivery options continue to change. In Atlanta, we are seeing more people relying on bikes, MARTA, the Beltline, Uber and other forms of transportation. Retailers inventory replenishment programs no longer rely on only the 18-wheeler.
GlobeSt.com: Where do you think we'll see mixed-use development pop-up that we haven't yet?
Guillia: Mixed-use developments will continue to press into suburbs that offer strong employment growth opportunities. We believe employment and mobility options will be a bigger driver of mixed-use development than what has traditionally been income and density.
We have also seen mixed-use development expanding beyond just the urban landscapes in both vertical and horizontal formats. Evolving entertainment options, versus just retail and food, will be more sought out as the size of the projects increases.
Things such are top golf, electric go carts, historic “boardwalk” games, simulated skydiving, tests of athleticism and amphitheaters come to mind. Ubiquitous chain restaurants will find it harder than ever before to find a place in these projects.
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