Urban Infill Retail Requires Patience

CHICAGO—Even though investors have begun pouring money into commercial real estate sectors such as multifamily, industrial and senior housing, they remain cautious when it comes to most retail. However, urban infill retail has largely captured their imagination. And yesterday at the Urban Land Institute’s Fall Meeting, a panel of experts wrestled with the difficulties presented when developing retail in dense urban cores.

John L. Bucksbaum, the former president and CEO of General Growth Companies, Inc., said he spent most of his career in the suburbs. “Suburban retail is still very, very strong. The good malls are only going to get better.” However, he added that he “grew up on the development side of the business,” and since new suburban developments have gotten less common, as the head of Bucksbaum Retail Properties LLC, he now focuses on urban infill retail.