WASHINGTON, DC—Mall and shopping center landlords and the retailers that would occupy their properties don't see eye to eye on a number of areas related to brick and mortar stores, says FTI Consulting. As many as 93% of landlords agree or strongly agree that new stores are critical to retailers' sales growth, while just 61% of retailers would say the same.
Owners and tenants also have differing views on location, store design and consumer experience. For example, FTI's survey finds that landlords believe that being located near other high-traffic retailers and providing a compelling architectural design and physical environment—cited by 87% and 73%, respectively, of owners surveyed—are the two most important benefits they could offer a retail tenant.
The figures are lower for retailers: 66% and 44%, respectively. Retailers think convenient parking is more important than design and store environment; 52% cited this factor.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
