Research: E-commerce Steals 100bps From Stores

NEWPORT BEACH, CA—Locally based Green Street Advisors has launched Real Estate Analytics, a new product line of value-add research focused on the private commercial real estate markets that includes data and analytics at the macroeconomic, property-sector and market level for the apartment, industrial, retail and office sectors. The research reveals some startling statistics about retail real estate.

The 2013 US Mall Outlook is one of the new line’s first reports. In it, Green Street reviews the major changes that are occurring in US retail real estate due to the growth in e-commerce. The firm estimates that 15% of currently operating malls in the US will either be fully or partially repurposed into something other than retail or closed in the next 10 years—this is up from a 10% estimate several years ago. The nation’s strongest malls will continue to gain market share, while weaker malls are at risk. Additionally, Green Street estimates that online shopping is stealing more than 100 basis points per year of sales growth from brick-and-mortar stores.