While many types of retail have been devastated by the pandemic, segments of one sector have held up exceptionally well.
"I think if you look at retail in the 21st century, the future of retail is net lease," Joey Agree, CEO of Agree Realty, a REIT that invests in the space with a focus on retail, said in a recent CBRE podcast. "The future of retail is freestanding."
The pandemic has highlighted the strengths of freestanding retailers as omnichannel becomes more prevalent as consumers took advantage of stores and restaurants that provided drive-throughs and curbside pickup. "I believe the best retailers in the world will continue to prefer freestanding net lease formats in the future," Agree says.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
