LAS VEGAS—“Shopping centers must have a diverse mix of entertainment options and chef-driven restaurants in order to be successful.” So says Cary Beale, SVP of Retail Leasing for Franklin Street.

As GlobeSt.com recently reported, Beale was recently appointed to his role in order to focus on strengthening the division's ability to drive more value to investor clients, while also recruiting top talent in the industry on a national basis. He tells GlobeSt.com that it is more important now more than ever for tenants to offer a strong omni-channel platform that makes retail shopping easy, convenient and personalized.

“In-store shopping needs to be an exciting, pleasurable and engaging experience, which appeals to all ages,” he says. “Today's consumer is looking for convenience, quality and value. Specialty grocers, discounters like TJ Maxx, Bealls Outlet and HomeGoods, along with fitness centers are the most active tenants in today's market. Sprouts, Aldi and Lidl are all expanding heavily in the southeast as well.”
He continues that “this is an exciting time for the industry as discount retail stores are expanding their base and benefiting from consumers looking for value. Experiential and service-based merchants are growing their sales, while fashion retailers and department stores have been losing market share. The forecast for retail is changing daily, but landlords that deliver on providing services, food and destination shopping will profit the most.”