T. Reed Hudson says cap rates have remained fairly flat this year, at or near historically low levels.
DALLAS—Today's department stores account for roughly 1% of all retail sales, according to a Customer Growth Partners consultancy/New York Times report of late last year. In contrast, malls topped occupancy lists back in the 1980s, holding a 10% share of all US retail sales.
Ironically, that is the share that e-commerce currently holds, according to a recent report by Weitzman. Given these e-commerce impacts on the mall sector, Texas net-lease product continues to show impressive demand, says T. Reed Hudson, associate director of Stan Johnson Company, in this exclusive.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
