May 20, 2020
By Dennis Kaiser
A common refrain heard across the commercial real estate industry lately is “Retail isn’t dead yet.” In fact, that positive proclamation came across loud and clear on Marcus & Millichap Retail Trends 2020 webinar this week. Commercial real estate industry leaders and retail property investment experts looked at the retail real estate investment market and discussed how the economy and retail real estate will look after the global health crisis.
The discussion included Marcus & Millichap’s President and Chief Executive Officer Hessam Nadji; Scott Holmes, Senior Vice President, National Director, Retail, Marcus & Millichap; and CRE industry leaders Kimco Realty Corp.’s Conor Flynn; DLC Management Corp.’s Chris Ressa; and VEREIT, Inc.’s Brett Sheets.
Panelists were optimistic about the future of retail post-pandemic. “We need cheerleaders for retail,” Kimco’s Flynn said. “There’s lots of naysayers out there. We need to make sure to recognize that retail is not dead. It is going to be totally reinvented again.” Though he pointed out the challenges facing the industry, which they already had been monitoring, are likely to be around for the “long haul,” even as the pandemic accelerated them.
To that point Nadji said, “Don’t bet against the United States.” He expects a “rebirth for retail after the current crisis plays out.”
To be sure, retail has always