PERSONAL COMMENTARIES OF RETAIL REAL ESTATE EXPERTS
Outlet Centers are still a niche market in the international retail real estate business and an asset class of its own. Today, there are more than 200 outlet centers spread over Europe but there are significant differences regarding the degree of saturation and maturity levels.
People say that predictions are hard, especially when they have to be made about the future. Be that as it may, ACROSS asked leading industry-players what to expect from the coming twelve months.
For years, malls in the United Arab Emirates have been surpassing each other with endlessly new, breathtaking attractions: With features such as ice rinks in the middle of the desert, aquariums, and roller coasters or an entire VR world, shopping has long since become an experience in this region.
A self-made man who set out to form a European format omnichannel provider.
In today’s environment of complex and fast changes in all fields of real estate development, particularly affecting retail and all the complementary activities making these developments possible, inevitably, the architectural profession will have to adapt by preventively responding to future trends and demands.
In 2018, the current retail (r)evolution continued and did not slow down. Omnichannel has become a reality: Today’s consumer, whether 7 or 70 years old, searches the web to make in-store purchases and does the exact opposite five minutes later.
Just a few years ago, many retail commentators were predicting that by 2020, online retail (“clicks”) would have completely taken over and driven physical (“bricks and mortar”) stores to extinction.
The ACROSS Advisory Board is happy to announce its latest addition and welcomes Thomas Reichenauer as its new member.
Outlet retail has long been established across Europe, but the sector has tended to suffer from being seen as second best to its big sister, the shiny shopping center. As a long-term owner and operator of retail outlets across Europe, Resolution Property has been at the forefront of evolving this sector to capitalize on creating offers that can’t be replicated online.
The ACROSS Advisory Board is happy to announce its latest addition and welcomes Walter Seib as its new member.
CONGRATULATIONS
Outlet centers have proved to be one of the most successful businesses in the retail market.
The retail real estate industry has faced many challenges in the decade since the crash. Most fundamental among them was a textbook case of falling demand facing rising supply.
Even after 10 years of online retailing, the clear dominance of brick-and-mortar retailing remains unbroken.
What shaped and moved the retail real estate industry in the past 10 years.
SPECIAL: 10 YEARS ACROSS - OVERVIEW
When we presented the first print issue of ACROSS exactly 10 years ago, an epochal event shook the world economy. The US-investment bank Lehman Brothers went bankrupt with a deafening bang and caused the biggest economic crisis in recent years. The real estate industry was hit particularly hard.
Close to four million sq m of new shopping center space is expected to be delivered this year in Europe, and millions more are due to be completed in 2019.
Given the current skepticism prevailing among the international real estate investment community, particularly regarding the retail real estate segment, it is important to try to identify its underlying reasons, separating the thoughtful ones from the more provocative ones.
One of the most important aspects of the advancement of technology is how it has unlocked massive potential by transforming the way we communicate. In our daily lives, we now have at our fingertips instant ways to access important information, engage with people and brands that matter, and stay safe and informed.
