Is the Retail Market Performing Better Than You Think?

LAS VEGAS—ICSC – HereWe Go. 2021 is fast approaching. The Las Vegas conference will include networking with dealmakers, changemakers and innovators, gatherings and meetups with like-minded professionals. GlobeSt.com caught up with a few retail heavy hitters to talk all things retail.

Michelle Schierberl, SVP of Stream, for example, tells GlobeSt.com that the retail market is performing much better than the average person thinks.

“There has been so much press on store closings and on-line sales that people think retail centers are a thing of the past,” she says. “However, the occupancy on open air centers on a national basis is 91% occupancy today versus 93.5% in 2016.”

According to Schierberl, store sales are actually at records highs for many national retailers. She pointed out that there is a 7.8% decrease in retail uses with existing centers nationally.

Schierberl isn’t the only retail expert with this view. In a recent article highlighting the convention, Sandy Sigal, president and CEO of NewMark Merrill Cos., told GlobeSt.com that he sees the state of retail as one of great promise. “Across our portfolio, which includes the west coast, Colorado, and the Midwest, we saw a very rapid increase in traffic and record sales for many of our tenants,” he previously said.

From globest.com. Click here to read the full article.