LAS VEGAS—In a recent discussion on emerging trends in retail commercial real estate in preparation for the upcoming ICSC Las Vegas conference, Mike Sladich, Regional Managing Director at Northmarq, shed light on the retail landscape. Contrary to expectations, he says that distress opportunities in the market have not materialized as anticipated.
Despite raised funds and anticipation of a downturn akin to the global financial crisis, the retail sector paints a different picture. He notes that rents are on the rise, vacancy rates remain low, and lenders exhibit flexibility in refinancing agreements.
Mark Sigal, CEO of Datex Property Solutions, emphasizes the prominence of lifestyle retail, which was the fastest-growing segment before the pandemic. He tells GlobeSt.com that as new retail developments gradually emerge and occupancy reaches near-peak levels, lifestyle-oriented retailers and similar properties will outperform the broader market.
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Discussing the importance of data, Sigal highlights the significance of actionable insights in decision-making processes. He praises Placer.ai for their comprehensive location analytics, which aid in investment decisions, retailer site selection, merchant health assessment, and market targeting. Sigal also underscores the potential of leveraging smarter data to optimize returns and operational efficiency.
Another trend he pointed to was the transformative potential of artificial intelligence in revolutionizing retail real estate operations. With various facets of portfolio management, including leasing, property management, facilities management, asset management, and investment management, generating substantial amounts of data, AI is poised to streamline processes, he says. By optimizing strategies, coordinating stakeholder actions, and monitoring critical events, AI promises to reshape the industry, ultimately leading to enhanced retail experiences.
Check back with GlobeSt.com for more from the upcoming ICSC event and click below for other relevant retail stories you might have missed.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
