Fitch headquarters in Lower Manhattan Fitch Ratings headquarters in Lower Manhattan.

NEW YORK CITY—It could give the phrase “mixed use” new meaning. Fitch Ratings sees a convergence of industrial distribution and retail real estate in the future, driven by the growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods.

“Retail real estate sites and e-commerce last-mile distribution sites now essentially serve the same purpose—the distribution (or staging) of goods for sale to the end user,” the ratings agency said Tuesday. “One has a delivery focus but without public access, the other has public access but without a delivery function. Retail centers that exhibit the best demographics, which include per capita income and population density, will be most easily repositioned and most capable of managing the secular shift in how goods are sold and purchased in the 21st century.”

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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