Stop Calling Them Shopping Centers: Four Commercial Retail Asset Trends
As a real estate investment firm, we specialize in the acquisition and management of broad, multipurpose commercial real estate assets, but we don’t like to call them shopping centers. Given the ever-changing retail landscape, we believe that this is an overly simplistic term that misses a key point about modern retail tenants. There’s much more than just shopping happening in their storefronts. While modern retail stores are places where shoppers go to buy things, they’re also storage centers, ghost kitchens, offices, distribution points and medical centers. As a result, these “shopping centers” have become more of a diversified commercial real estate asset. As time goes on, I believe that institutional capital will recognize this fact and the resulting cap rate compression will drive prices higher to valuation multiples that are more akin to industrial or multifamily properties. There are four macro trends shaping this narrative. Read more at Forbes.
