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Retail Undergoes Redevelopment Revolution

LOS ANGELES—Looking back at the retail market in 2014, Lee & Associates' Stephanie Skrbin talks EXCLUSIVELY about the trends in the Los Angeles market, and why retail is having its moment.

By Kelsi Maree Borland | Updated on December 09, 2014

LOS ANGELES—As the retail sector continues to improve, developers are finding redevelopment opportunities to build new product, according to Stephanie Skrbin, a principal in Lee & Associates‘ L.A. North/Ventura office. Skrbin sat down with us for an exclusive interview to discuss end-of-the year retail trends in her market, which, overall, has seen a successful year.

“The trend here is redevelopment because the San Fernando Valley is so over built that it is difficult to find existing land,” Skrbin tells GlobeSt.com. “You continue to see developers going in and finding projects with a conversion play or an upgrade to an existing retail project.” She adds that in addition to the area being overbuilt, developers also have a hard time assembling land plots because there are “usually multiple owners involved.” Within this redevelopment trend, she believes retailers will find space in mixed-use properties more and more. “I think the biggest trend that you are going to see in the future is multifamily or some sort of residential or office buildings with ground floor retail,” she adds.

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