How Are Retailers Adapting to Density?

LOS ANGELES—Density is coming to Los Angeles. The once sprawling city is seeing vertical development and mixed-use complexes that other cities have had for years. In response, retailers are opening up multiple locations in a single submarket to increase market share and control the path of travel. Many of these stores are less than a mile apart from each other and are fully stocked and fully operational outlets. It is a trend Lee Shapiro, the EVP of brokerage at Kennedy Wilson is seeing more and more. He says that clients are frequently asking for second or third locations in a submarket where they already have a presence. To find out more, we sat down with him for an exclusive interview. Here he was he tells us about this new retail strategy.

GlobeSt.com: Tell me about this new retail strategy in Los Angeles where retailers are opening multiple locations in a single, dense submarket.