COVID-19 Continues to Change the Retail Real Estate Landscape
On this episode of Dirt Work, we were joined by Austin Clinkscales, Principal at Ladera Properties, a real estate developer, investment firm and operator focused on the retail sector in Texas and Oklahoma, to discuss how COVID-19 has impacted that already ever-changing retail real estate market. Retail is a tough business because of inherent limitations to control consumer behavior and has been impacted by many market shifts in the last several decades including the dot-com boom, the 08/09 recession and the emergence of retail alternatives such as e-commerce.
Clinkscales believes that the silver lining of the coronavirus disruption is opportunities created by reduced competition going after new development opportunities as others in the market are working to control pandemic-related damage to their existing portfolios.
COVID-19 has continued to change the retail landscape across malls, power-centers (e.g. shopping centers anchored by a Walmart, Target, etc.), neighborhood retail and restaurants. While the nuances impacting each vertical differ Clinkscales believes that liquidity, technology, health, and general ability to increase consumer confidence will separate the winners and losers following the pandemic. For listeners interested in learning more about changes in the retail section, Austin recommends CBRE’s Global Retail Research channel.