New home lot supply drops to cycle lows
While our last blog discussed the latest trends in commercial real estate, part 2 of our Senior Manager Shaun McCutcheon’s report on the retail sector in the United States provides insight into how developers can be successful in today’s ever-changing world. Successful retail development is still possible—the housing rebound that occurred over the past five plus years comes with a renewed demand for new retail centers in select locations. Urban/infill areas also have a need for some expansion and storefront “facelift” improvements, which has proven to increase occupancies and lease rates in many cases. Based on our research in the feasibility of new commercial and mixed-use developments around the country, the following concepts have proven to be the most effective:
With the elections over, consumer confidence stable and incomes increasing, there is hope in the world of retail development, despite formidable competition from shopping on our phones and laptops. The key will be focusing on the best locations and providing space for tenants that offer goods and services that cannot be replicated via online shopping.
Please contact us to discuss how we can help with your next commercial/mixed-use development.
Shaun McCutcheon, Senior Manager – Advisory Charlotte
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