Scott Morey and Tom McGee discuss the future of retail real estate.
The retail segment had already been impacted by the Amazon-effect, making online shopping and B2C logistics commonplace for purchasing everything from a carton of milk to a Ferrari. Developers and owners responded by focusing on entertainment and services tenants that could not be disintermediated by the internet. Vacant anchor spaces were being divided and repurposed for smaller tenant communities. The “new” retail world was well on its way.
Then along came COVID-19. Social activities curtailed. Leading retailers filing for bankruptcy and continued acceleration of online commerce. Now what will happen?
Scott Morey of One11 Advisors and Tom McGee, President and CEO of ICSC, discuss state of the retail real estate segment. Tom brings a unique perspective with his professional services background as Vice Chairman at Deloitte and CEO of ICSC the leading industry association for shopping centers. Listen to their insightful perspectives on the new normal for the retail segment.