LOS ANGELES—GlobeSt.com recently caught up with GaryGlick, partner at Cox Castle Nicholson,based here in Los Angeles, to discuss the two major movements hisretail team is seeing in the market today. “There is a movementtowards 'Amazon-proofing retail centers,' or leasing toexperiential tenants like restaurants, theaters and fashionretailers over any tenant that competes with Amazon.com,” he says.Another movement he is seeing a lot of based on the deals his firmis doing involve the “shake-up” in grocery.
According to Glick, “With the increasing popularity of non-unionspecialty grocers such as Whole Foods,Sprouts and Trader Joe's andnon-union traditional grocers such as Wal-MartNeighborhood Market—not to mention the increasingamounts of groceries sold by non-union big box retailers such asTarget, Costco,Wal-Mart and Sam's—thetraditional union supermarket industry will be facing majorconsolidations and challenges.”
As for the “Amazon proofing retail centers,” Glick says that,“Landlords are connecting the strong performance by luxuryretailers and higher end restaurants to the experience that thesetenants deliver. Experiences like trying on clothing and enjoying ameal with friends cannot be ordered online, but the products thatBest Buy and Barnes & Noble carry can.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.