Retailers Refocusing on What It Takes to Attract Foot Traffic

The Palms at Town & Country, 8268 Mills Drive. Source: J. Albert Diaz

Investors are closely monitoring the e-commerce industry’s effect on the South Florida retail market. And, according to GlobeSt.com’s sister publication, ALM’s Daily Business Review, as sales migrate online, retailers are shrinking their footprints while some big-box tenants like Sports Authority have faced bankruptcy, leaving many empty stores in their wake.

“Investors are looking at retail centers or properties and taking into consideration what exposure the tenants have to online sales,” said Barry Wolfe, vice president of investments for Marcus & Millichap in Fort Lauderdale.

While several retailers are using technology to their advantage, others have been hurt. “Retailers are not growing as aggressively,” Wolfe said. “The developers and lenders are certainly being cautious.”