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Is Senior Housing an Answer for Vacant Retail?

Gene Ventura of Faris Lee weighs the benefits in this EXCLUSIVE interview.

By Geoffery Metz | Updated on November 30, 2017
Ventura: “Long gone are the days when senior housing projects were developed in remote locations tucked away from everything.”

IRVINE, CA—As e-commerce continues to alter the retail industry, owners have turned to ever more creative solutions to fill vacant properties left in the wake of this transition. Should senior housing be one of the options? That’s one of the suggestions from Gene Ventura, senior managing director at Faris Lee Investments. GlobeSt.com met with Ventura to hear more.

GlobeSt.com: Has retail been overbuilt? If so, what properties are most likely at risk?

Gene Ventura: With the recent flurry of retailer closures and less to backfill these vacant sites, it is apparent that we are overbuilt even in highly trafficked areas. According to Cowen and Company’s research analysts, the US has about 40% more shopping space per capita than Canada. Although overall retail spending continues to rise steadily the face of American shopping has changed.

GlobeSt.com: What other uses make sense?

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