Chung: There is no doubt online retailing is impacting the brick and mortar retail community. However, the experience retailers are providing in stores is continually evolving and attracting customers into the stores. From creative showrooming to in-store promotions, many retailers are taking advantage of the multiple contact points with their customers and are able to monetize their customer base more frequently and effectively. In fact, in many class-A malls, we are seeing growth on a sales per square foot basis from years prior despite the ever-growing online retailing community.

GlobeSt.com: What are some retail concepts that you've seen that stand out as unique ideas to gain market share?

Chung: Food halls have been gaining momentum in filling larger spaces with unique, chef-driven concepts that one cannot find in other places. “Experience” stores are also gaining traction with retailers taking advantage of more showroom and floor space since they do not need to house any inventory. Fitness and service retail also continue to grow in many shapes and forms (boutique fitness and male-centric grooming concepts).

GlobeSt.com: What are other trends you are seeing in retail that may be bright spots?

Chung: While national tenants will always have their respective seats at the dinner table, landlords and developers are seeking, more than ever, regional and local retailers who have strong followings or compelling business plans. Luxury theaters offering more interactive food and beverage offerings are also on the rise, with many currently trying to enter the Northern California market.

Chung has been with Cushman & Wakefield for 14 years and currently represents more than 30 national tenants, most of which are Fortune 500 companies, and more than 7 million square feet of retail across the Bay Area. Chung's roster of clients includes Sur La Table, 24 Hour Fitness, MOD Pizza, Guitar Center, AT&T, Party City and notable landlords such as Hunter Properties, TRC, VEREIT, Jamestown, Federal Realty and Donahue Schriber.

As previously reported, Union Square retail occupancies are at record levels.

SAN FRANCISCO—James Chung was recently appointed as retail practice group leader for the west region of Cushman & Wakefield. In this capacity, Chung will provide leadership and strategic direction for the region's overall retail leasing business and coordinate with related service lines including strategic consulting, capital markets, single tenant net-leased investments, property management and project management. He recently discussed some of the recent retail closings, the reasons behind them, cool new concepts and interesting trends to watch in this exclusive.

GlobeSt.com: We've seen Macys, The Limited, Sears, CVS and Kmart announcing plans to close some or all stores just in the last month. Are we through the worst of it or could more be on the horizon?

Chung: I want to believe the worst is behind us but there could be some more carnage, particularly in the drug segment with the consolidation of the industry. However, with creative repurposing, the closures can often create fantastic opportunities for higher and better uses that potentially are more contemporary and congruent with today's retail market.

GlobeSt.com: Are we over-retailed or is online retailing taking a larger toll?

Chung: There is no doubt online retailing is impacting the brick and mortar retail community. However, the experience retailers are providing in stores is continually evolving and attracting customers into the stores. From creative showrooming to in-store promotions, many retailers are taking advantage of the multiple contact points with their customers and are able to monetize their customer base more frequently and effectively. In fact, in many class-A malls, we are seeing growth on a sales per square foot basis from years prior despite the ever-growing online retailing community.

GlobeSt.com: What are some retail concepts that you've seen that stand out as unique ideas to gain market share?

Chung: Food halls have been gaining momentum in filling larger spaces with unique, chef-driven concepts that one cannot find in other places. “Experience” stores are also gaining traction with retailers taking advantage of more showroom and floor space since they do not need to house any inventory. Fitness and service retail also continue to grow in many shapes and forms (boutique fitness and male-centric grooming concepts).

GlobeSt.com: What are other trends you are seeing in retail that may be bright spots?

Chung: While national tenants will always have their respective seats at the dinner table, landlords and developers are seeking, more than ever, regional and local retailers who have strong followings or compelling business plans. Luxury theaters offering more interactive food and beverage offerings are also on the rise, with many currently trying to enter the Northern California market.

Chung has been with Cushman & Wakefield for 14 years and currently represents more than 30 national tenants, most of which are Fortune 500 companies, and more than 7 million square feet of retail across the Bay Area. Chung's roster of clients includes Sur La Table, 24 Hour Fitness, MOD Pizza, Guitar Center, AT&T, Party City and notable landlords such as Hunter Properties, TRC, VEREIT, Jamestown, Federal Realty and Donahue Schriber.

As previously reported, Union Square retail occupancies are at record levels.