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Will Today's Parking Lot Be Retail's Future?

TUSTIN, CA—The fundamentals of great retail brokerage continue to stand true, but sometimes the location is just not right for retail, and in these situations sometimes it's best to evaluate a completely different course, Coreland Cos.' Ben Terry tells GlobeSt.com.

By Carrie Rossenfeld | carrierossenfeld | Updated on June 07, 2017
Ben Terry, Coreland Companies Terry: “In my opinion, Southern California parking fields are a gold mine of opportunity for future development.”

TUSTIN, CA—The fundamentals of great retail brokerage continue to stand true, but sometimes the location is just not right for retail, and in these situations sometimes it’s best to evaluate a completely different course, Coreland Cos.‘ VP of retail brokerage Ben Terry tells GlobeSt.com. We spoke with Terry about the state of leasing neighborhood shopping centers, taking advantage of unused parking fields and the importance of centers having an urban feel.

GlobeSt.com: What is your general overview of the state of leasing neighborhood shopping centers?

Terry: The fundamentals of great retail brokerage continue to stand true: it’s all about location, location, location. Class-A products remain the jewel of the market, but opportunities lie in B and C assets.

Sometimes the location is just not right for retail, and in these situations sometimes it’s best to evaluate a completely different course. This might mean recreating space into something other than retail, converting an unused parcel, or making new use of an unused parking field. In my opinion, Southern California parking fields are a gold mine of opportunity for future development.

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