TUSTIN, CA—As the retail sector continues to redefine itselfpost-recession and among the growing presence ofe-commerce, various categories within the sectorare undergoing radical changes. Among those categories is theneighborhood center, once dominated bybig-box retailers and now finding a new face.GlobeSt.com spoke with Matt Hammond, director ofretail brokerage for Southern California-based Coreland Cos., who told us exclusively howthis category is changing and where its future opportunitieslie.

GlobeSt.com: How have neighborhood shopping centersevolved post-recession?

Hammond: Today's neighborhood centerbasically starts with everyday needs, things you cannot get on theInternet: a grocery store—and this includes ethnicor specialty grocery stores—drug store, hair salon, dry cleaner,pharmacy, fitness center. If you're a prospective buyer, you wantthe center to have a strong grocery store and strong servicetenants as opposed to a clothing store orHallmark store that might not be around in fiveyears—places where customers make weekly trips to buy groceries,get prescriptions filled, get their nails done, and eat.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.