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Other Sectors To Outstrip Retail

DENVER-Panelists at the Urban Land Institute wonder how long consumers will keep spending. Apartments and hotels have the strongest outlook.

By Debra Hazel | Updated on October 20, 2006

DENVER-Retail, the former darling for real estate investment, should slow down compared with other sectors next year, according to Emerging Trends in Real Estate 2007, released by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP at ULI’s fall meeting here. The report is the result of a survey of more than 450 investment and real estate professionals.

Though lifestyle centers in upscale suburban markets will continue to do well, slowing retail sales should take its toll even as new projects open, respondents say. “The only real doubt [respondents expressed] was about retail. When will the consumer stop spending?,” asked Stephen Blank, senior resident fellow of Washington, DC-based ULI, in a panel discussing the survey results. “Unemployment is low, but so are wage increases.”

Fortress malls and solidly anchored neighborhood centers remain strong investments. But the retail development pipeline is full just as the consumer is beginning to wobble, Blank added.

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