LOS ANGELES—Wilson Commercial Real Estate has officially changed its name to Wilson Retail Group, a change that illustrates the company's focus and expertise in the commercial retail sector. To find out why the firm decided to officially change its name, how a name change might affect its clients and what we can expect from them in the future, we sat down with Wilson Retail Group founder Chris Wilson and president Scott Burns. Here is what they told us:

GlobeSt.com: Why have you changed your name to Wilson Retail Group?

Chris Wilson and Scott Burns: The name change to Wilson Retail Group is a reflection of the growth of our company over the past 24 years and who we are today - a full service retail real estate brokerage company specializing in landlord agency leasing, tenant representation and investment sales.  We pride ourselves on our "one team" approach that is a fully integrated group of professionals 100% committed to retail real estate in Southern California.  The firm is now owned and led by its principal brokers who provide senior level leadership within our multiple business lines.  

GlobeSt.com: How will your new name impact your clients? 

Wilson and Burns: We believe that it will create further recognition of our robust service platform and the depth of expertise we bring to retail real estate.  Our new “retail focused” branding will provide better awareness of our client's properties, our institutional quality shopping center portfolio and our retailer client's expansion goals.  Complementing our new name, we have launched a new interactive website,which will also better serve the properties and retailers we represent.  

GlobeSt.com: What does the future hold for Wilson Retail Group?

Wilson and Burns: Wilson Retail Group is looking to strategically grow its business in ways that will benefit its clients and better serve the retail real estate industry.    This includes inviting professionals to join our team who fit our culture and have a superior track record in retail.  Another key element of our future will be the further integration of our platforms internally and the growth of our 12 member real estate team. 

GlobeSt.com: In general, why is change at a firm good?  

Wilson and Burns: Our firm has been through three major business cycles and we have found that change is not only healthy but it is a necessity to survive and prosper.  We believe that in order to stay relevant and continue to grow in the retail shopping center industry, firms need to embrace change and adapt to new business climates and the requirements and needs of retailers and property owners.

GlobeSt.com: What retail trends will you be watching in 2015? 

Wilson and Burns: We expect that vacancy rates will continue to compress throughout Southern California, which will result in increased demand for ground up development. Development in the core urban markets will see further expansion and penetration from chain retailers.  Brick and mortar retailers will continue to adapt to changes in consumer shopping behavior through further downsizing and the development of more specialized offerings/concepts.  We also see the frenzied expansion of unique and sustainable restaurant concepts continuing along with more the further strength and dominance of the dollar stores.