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.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
