What's Hot and What's on Tap for Retail This Year?

Trenton McCullough, Peter McQuaid and Greg Vanlerberghe weigh in on retail trends.

SCOTTSDALE, AZ—The Scottsdale-based team made up of senior vice presidents, Trenton McCullough, Peter McQuaid and Greg Vanlerberghe plus associate Mark Cassell are the retail force behind LevRose Commercial Real Estate, a boutique firm specializing in brokerage and property management.  Combined, they have more than 35 years of experience in the CRE industry with a specialty in retail. GlobeSt.com: Looking ahead, what’s in store for retail in the commercial real estate industry in 2016?

LevRose retail team: So far, we’ve already seen a transition of big box retailers looking to scale down or vacate their premises altogether. It’s the genesis of a “retail revolution” that is looking for a more efficient footprint that meets the needs of the modern user. We’ve also seen a lot of push for “adaptive-reuse” for many cities in the Greater Phoenix market. For example, our major cities are working with specialists in economic development in order to create strategies that can revive their downtown areas.  The need for a center of entertainment, culture and influence is becoming increasingly popular and of high demand. Each city is looking for a way to define itself with a significant downtown development.