Tuesday, December 12, 2017

Retail Is ‘Positive And Growing’

Image result for everlane pop up storeIt was not only the energy on the show floor and in panel discussions at last week’s ICSC New York Deal Making conference that had CBRE’s Brandon Famous upbeat. “I hear a lot about how ‘retail’s in trouble and has all these issues,’ ” the senior managing director of CBRE’s retail advisory & transaction services | occupier practice in the Americas told GlobeSt.com as the three-day conference wound down. “To the contrary: retail’s actually very positive right now, and growing.”

He acknowledged that, for example, there are vacancies in some key Manhattan retail corridors and that some department stores are in distress, but said that in both instances, “there’s a direct cause for that. The direct cause isn’t necessarily a function of retail. They either overpriced themselves or they over-stored themselves, and they’re just trying to become leaner and meaner and more efficient. The reality is that there will be more retail transactions next year than there have ever been.. . . more

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