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Is Retail Redevelopment Worth the Investment?

More and more developers are spending significant capital to redevelop retail centers and create a sense of place. Nadel's Greg Lyon tells us when its worth it and where to focus.

By Kelsi Maree Borland | kelsimareeborland | Updated on October 13, 2017

Greg Lyon Greg Lyon is an owner, design director and principal at Nadel Architects.

Retail redevelopment is increasing as landlords look for ways to remain competitive with online platforms. Generally—as we have seen in new construction retail—consumers today are driven to retail hubs that have a sense of place and offer a community gathering areas. Retail landlords in both infill urban environments as well as suburban markets are looking into redevelopment to evolve with the market.

“About 50% of our work right now is redevelopment of retail centers, so half is ground up and half is repositioning,” Greg Lyon, co-owner, design director and principal at Nadel Architects, tells GlobeSt.com. “We have ground up that is in tertiary markets as well as urban cores, and we have redevelopment projects that are in both tertiary and urban infill markets.”

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