Posted on December 10, 2018
By Richard Sarkis
Demand for retail properties has taken quite the hit in the wake of rapid e-commerce growth. Companies like Amazon continue to eat up industrial spaces, while brick-and-mortar retailers seem to lose foot traffic by the day.
As that demand has washed away, however, a sturdy foundation has emerged for real estate developers to rebuild and reinvigorate the retail industry as a whole. It has become clear that value remains in the development and reuse of retail spaces across the country.
A Gloomy Year
It’s not much of a secret: 2017 was not very kind to the retail industry. The year on its own saw roughly 8,000 store closures — a steep increase compared to the year prior, which saw closer to 2,000. And even though 2018 may see store closures at a similar rate to that of 2017, recent success stories show there are still avenues for retail stores to thrive — success simply looks a little different than it did in the past.