Online Purchases Force Retail Markets into Dramatic Transformation
The 2016 Summer/Fall Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey found that retail is undergoing a profound change from distribution conduits to experience-shopping venues. In each of the markets polled, retail space sentiment was positive, but not quite as positive as indicated in the previous six months. Retail is currently being driven by two factors: new construction of retail spaces to support the booming multi-family market, and renovations of existing high quality malls from brick-and-mortar stores to experience venues.