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Smart Retailers Will Thrive in Hard Times, Say SoCal Experts

LOS ANGELES-Despite a flattening in the retail market, two SoCal industry experts share their perspective about the types of retail tenants that will grow and flourish in the years to come.

By Patricia L. Kirk | Updated on March 19, 2001

LOS ANGELES-While the first quarter of 2001 has already seen some retailers downsize, reposition or even shut their doors for good, certain product types will remain strong and even expand, despite an economic downturn, according to two SoCal industry experts.

Sandy Sigal, CEO/co-chairman for Tarzana, CA-based-Newmark Merrill, says infill retail space, such as Ralph’s Markets, 99-Cent Stores and Wal-Mart–the type of product his firm invests in–has always done better than trendy retail space and, “if anything, for the next year we’re optimistic about our tenant pool.”

Although the “all important holiday season” was a letdown in 2000 and spelled an end to some retail businesses, Marianne Waggoner, executive manager of Retail Services for CB Richard Ellis, contends, “We’re actually at the end of a cycle of expansion and emerging retail properties.” She notes, however, that retailers with a strong brand like the popular Kohl’s stores, which announced plans to expand westward just last week, will grow stronger and thrive, even during hard times. “Strong branding–something that you’re known for–seems to be the characteristic that bridges all others–gets you past the other issues–and will become an increasingly dominant.”

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