CBRE Creates National Retail Research Position

Melina Cordero

WASHINGTON, DC—CBRE’s approach to retail research has been basically a decentralized one. The local markets would compile the reports, the premise being that they know their markets the best. Now CBRE is moving to enhance its profile in retail real estate research, both in the US and globally, GlobeSt.com has learned exclusively.  It plans to announce next week that it has created a national position to oversee these local operations and add more analysis to the process. It has hired Melina Cordero to fill this role, specifically as Head of Retail Research, the Americas. She is based out of the Washington, DC office. “By having one leader in the US we can take what we are doing to the next level of retail thought — not just transactional data but also consumer behavior and occupier trends that go beyond the immediate suspects,” Spencer Levy, CBRE’s Americas Head of Research told GlobeSt.com. The local resources will be key to this endeavor, Cordero told GlobeSt.com. “A big part of what we will do is leverage our massive resources on the ground and in the local markets to not only understand what are driving local developments – but also how they translate into national trends.” From ‘Place Making’ to Analytics The trends will range from what is driving consumer behavior to what retailers need to know about these trends to, not surprisingly, how landlords should position themselves. “Our agenda will be shaped around what information and insights will help the industry on the ground,” she said. Bigger picture themes will include “place making”  — a term that refers to the customer experience as opposed to just building a box for retail and the globalization of retail. “How much do global trends affect individual retailers is going to be an important issue going forward,” Cordero said. Cordero also plans to double down on data and technology and how it can be applied to retail research and analysis. “There is a massive shift in retail now, with retailers using both new and existing technology to transition to data-driven decision-making,” she said. A Retail Analytics Background Cordero’s own background includes a good dose of retail analytics. She was previously director of Analytics at Path Intelligence, a UK-based data and customer-analytics technology firm, where she oversaw the creation of the company’s North American division and worked with a large portfolio of retail clients across the continent while there. Prior to Path Intelligence, Cordero was a Global Industry Analyst tracking the retail and consumer-goods industries at Euromonitor International in London. Before that, she worked in urban planning and business policy research at the UK Parliament. Cordero’s educational pedigree borders on the impeccable with a B.A. in French Studies from Yale and dual Master of Science degrees in Urban Planning and International Development from the London School of Economics and Political Science and Sciences-Po Paris. Her master’s thesis—an exploration of shopping center development and consumer behavior in Brazilian cities—will be useful as CBRE ramps up its global retail reach. “I found it fascinating how different each of the retail markets were there,” she said. It’s an interesting observation given the changes underway in retail and telling as well for the industry as a whole: despite technology and global retail platforms, at the end of the day, retail is still about local market tastes.