Buildings 2.0
Why is the retail sector showing signs of resilience despite previous challenges? According to Darpan Patel, SVP at Marcus & Millichap, here are a few key reasons:
1. Demand for retail space is robust, especially in growing markets.
2. Retailers are thriving by integrating online and offline shopping experiences.
3. There is a significant trend towards repurposing existing spaces for new uses.
In this episode of Buildings 2.0, we explore the evolving landscape of retail real estate. Jose's guest Darpan discusses the surprising resilience of the retail sector, highlighting the high demand for retail spaces driven by population growth and changing consumer preferences.
Topics discussed:
- High demand for retail space in growing markets, driven by stable population growth and increasing household formation, particularly in the American Sun Belt.
- The integration of omnichannel strategies by retailers, blending online and offline shopping experiences to enhance customer engagement and drive sales.
- Creative redevelopment of existing properties, focusing on adaptive reuse to meet current market demands and capitalize on available real estate opportunities.
- The importance of customer experience in retail, emphasizing the need for exceptional service to foster loyalty and repeat business.
- Insights on how successful retailers are leveraging technology to streamline operations and improve market insights, enhancing their competitive edge.
Intro Quote:
“We help our clients, who are typically developers, private investors, funds, etc. to evaluate capital decisions, whether it's a single-unit owner, or a private client with 1 to 10 properties (which is our typical bread and butter) or up the scale to funds that are doing 40, 50 deals across the country. I'm not a Phoenix expert, I'm not a Colorado expert, but when they speak to us, I think they get an honest truth of what we're seeing. And this business is still about information-sharing, and quality information-sharing. Because today, there's a lot of information out there and you have to be able to filter through it.”
Get in touch with Darpan Patel:
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