Sean Meehan, LEED AP, ADMG
An open letter to Retail projects:
We miss you. We cherish the fond memories of partying with you just a few years ago. You used to overwhelm us with acres of square footage, generous fees and an endless supply of tenants…and now, we would consider ourselves lucky to find a hot dog cart or a lemonade stand remodel.
Please send us a sign. Were you kidnapped by an Amazon warrior? Were you Netflix’d out of the picture? Were you auctioned off into slavery on Ebay? Retail, we will not give up the search. We are holding out hope for your safe return.
Okay, let’s be serious. There is a glimmer of hope for retail, especially here in Southern California. Marcus and Millichap recently released a promising 2011 retail report for San Diego, LA and Orange County. While all of these locales have traditionally been at the top of this list due to the development restrictions inherent in California, even a slight projected strengthening is promising news.
And while some brick and mortar retailers like Blockbuster and Borders have fallen on hard times due to virtual competitors, others are poised to increase their market share. The same report forecasts significant future development for drug stores and ‘extreme value’ retailers like Dollar General and Family Dollar.
ADMG boasts an extremely strong and diverse portfolio of retail projects, and we will be working hard to ensure we are in attendance at Retail’s big welcome back party. Just as value is driving the decisions of the average consumer in a down economy, so too will it drive those of our clients. Our service-oriented approach benefits both small-box and big-box retailers alike.