We need an energy boost and have to rethink retail real estate. We are in the middle of the biggest transformation process in the industry. This means that retail locations need a makeover that goes beyond a classic refurbishment. Instead, we need to see them as an important, integral part of modern urban planning, in which other forms of use are conceivable alongside the retail asset class, such as residential and healthcare.
However, this also means that we have to treat retail locations as a long-term investment. If mixed-use locations are commercial risk minimization instead of well thought-out urban development, we are creating new risks for ourselves. We need to think in terms of lifespans rather than investment periods, especially with regard to ESG. Flying higher instead of driving short-sightedly is the motto.
The further development of sustainable retail locations now needs a more holistic perspective. The main focus here is on versatility. The days of monotonous shopping areas are over. The retail real estate sector has a very special responsibility in the real estate industry, because it creates colorful marketplaces instead of gray retreats.
Christian Schröder
Christian Schröder is COO at MEC
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