Among the hardest-hit throughout the COVID-19 pandemic, the retail real estate sector has experienced immense challenges and continues to face risks today.
Affecting nearly every individual as consumers, the retail industry has imposed the strongest and greatest number of restrictions, in effort to keep citizens safe.
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Prior to the onset of the pandemic, the retail sector was already in the midst of an evolution; considering the shifts in consumer preferences, the economic headwinds and the natural evolution of the industry. Now, situated in a further compromising position, retailers and sector stakeholders are experiencing substantial changes, such as social distancing requirements, regulated hours of operation, limited capacity, reconfigured floor plans, mask mandates, expanded outdoor space and additional safety precautions.
While e-commerce sales continue to skyrocket, the fate of retail's physical spaces, across brick and mortar stores, mixed-use developments, shopping malls, stand-alone spaces and more, is unknown and left up to the market's creative experts.
Required to accommodate countless on-going regulations, the sector's developers, investors, landlords, property managers, municipalities and tenants alike are persistently seeking opportunities and potential within spaces to adapt and cope to current operations and preserve functioning businesses.
Handling a myriad of lease re-negotiations, delayed rent payments, new technology for touchless environments and now facing a second wave of lockdown restrictions in some areas, market professionals are working tirelessly to ensure that retail properties continue to serve and revitalize surrounding communities.
Through their determined efforts, these skilled and resourceful professionals are helping shape the retail real estate industry, as well as the economy.
In effort to recognize the field's resilient and prominent professionals, from developers, investors and tenants, to brokers, managers and consultants, GlobeSt. Real Estate Forum is once again collecting nominations for the sector's top individuals, teams and organizations.
We are seeking professionals whom have had a recognizable and significant impact on the business. Be it through their contributions to the industry, the vast successes they've achieved in completing deals and projects, or the innovations and best practices they've introduced to the business, these are commercial real estate's Retail Influencers.
The deadline for nominations is February 12. To apply, click here.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
