Expect the malls of 2023 to include new uses and experiences, as retail real estate responds to five major industry and demographic trends over the next five years.
Indoor skydiving and punch-fueled karaoke are surely worthy retail center experiences, but for most retailers the nature of “experientiality” is more elemental.
Investment in retail assets plummeted by 46% in the first half of 2018, but JLL predicts a second-half comeback that should end up surpassing last year’s investment increases.
The departure of large retail anchor tenants like Toys "R" Us in a market with fewer expanding big-box players surely causes concerns for shopping center owners and operators.