GlobeSt.com: What impact will urbanization have on the retail real estate industry in 2017? And what are the implications?

Gerken: Urbanization has had an impact on the retail real estate industry in both suburban and metro markets. Within the suburban market retailers may be at a risk of having too much brick-and-mortar space since many young families are opting to live in urban areas. While retailers within urban markets are experiencing the need to expand aggressively to meet the increased demand for a bigger and growing population.

GlobeSt.com: E-commerce is an ongoing issue we discuss. How will this continue to impact retail real estate in 2017?

Gerken: Top of mind for many retailers will be floor plan adjustments that accommodate consumer shopping behaviors. Savvy retailers have already begun partnering with other brands by allowing them to sell products directly within their store. We'll see more collaboration among retailers on brick-and-mortar space in 2017 to help increase foot traffic.

Millennials are also leading a change in purchase trends. They are savvy shoppers and many resell items online or routinely comparison shop on mobile to get the best value and shopping experience. It's important for retailers to understand how to appeal to this demographic.

Are chain restaurants getting squeezed out? Get one perspective in my recent exclusive column.

ATLANTA—Retail real estate has morphed and is morphing. Players of various sizes are making strategic moves now. Who will be the winners?

GlobeSt.com caught up with Gregg Gerken, head of Commercial Real Estate at TD Bank in the US. Gregg, to get some perspectives. He is responsible for a $14 billion investment real estate portfolio serving regional and institutional real estate clients.

GlobeSt.com: What is your overarching view of the retail commercial real estate scene in 2017?

Gerken: The retail real estate industry has experienced a great deal of changes over the years, but the current transformation is profound and will continue throughout 2017. The convergence of brick-and-mortar and online retail will continue to be a major shift in retail. Those retailers that roll out e-commerce sites and have a strong brick-and-mortar presence in the right markets will win.

GlobeSt.com: What impact will urbanization have on the retail real estate industry in 2017? And what are the implications?

Gerken: Urbanization has had an impact on the retail real estate industry in both suburban and metro markets. Within the suburban market retailers may be at a risk of having too much brick-and-mortar space since many young families are opting to live in urban areas. While retailers within urban markets are experiencing the need to expand aggressively to meet the increased demand for a bigger and growing population.

GlobeSt.com: E-commerce is an ongoing issue we discuss. How will this continue to impact retail real estate in 2017?

Gerken: Top of mind for many retailers will be floor plan adjustments that accommodate consumer shopping behaviors. Savvy retailers have already begun partnering with other brands by allowing them to sell products directly within their store. We'll see more collaboration among retailers on brick-and-mortar space in 2017 to help increase foot traffic.

Millennials are also leading a change in purchase trends. They are savvy shoppers and many resell items online or routinely comparison shop on mobile to get the best value and shopping experience. It's important for retailers to understand how to appeal to this demographic.

Are chain restaurants getting squeezed out? Get one perspective in my recent exclusive column.