Urban retail real estate is at a turning point. Not because footfall is disappearing or because tenant mixes require yet another adjustment, but because cities themselves are changing. The key question is no longer how many people pass through a place — it’s how retail destinations fit into daily urban life.
For decades, the industry followed a proven formula: prime locations, efficient layouts, clear categories, measurable performance. It delivered scale and growth. But today’s cities are more fluid, more personal, and far more sensitive to experience. People don’t navigate cities like spreadsheets. They move through them with habits, emotions, and expectations shaped by distance, comfort, and time.
This commentary was published in ACROSS Issue 1|2026
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That’s where proximity comes in. If cities are to be livable, everyday life must become easier — not more fragmented. Retail places are no longer just destinations visited occasionally; they are potential neighbors frequented regularly. They succeed when they align with short daily journeys, familiar routes, and local routines.
Our cover story explores this shift from several perspectives. It opens with an excerpt from a speech by Prof. Carlos Moreno, whose concept of the 15-Minute City has reshaped urban debates worldwide. His core message is simple: livable cities are cities of proximity. When work, services, culture, and commerce are reachable within a short walk or bike ride, cities become healthier, more resilient, and more social. For retail real estate, the implication is clear: relevance begins within a 15-minute radius.
The series then turns to the thinking of Danish architect Jan Gehl. His vision of a “City for People” has long argued that successful urban places are designed at eye level and at walking speed. Retail, public space, and social life function best when planned together — not as separate components, but as one integrated urban experience.
Joachim Stumpf, Managing Director of German BBE Retail Consultancy, analyzes how retail contraction is forcing city centers to reinvent themselves.
We also examine major European cities and explore how they are reclaiming their role as retail’s most resilient stage — through placemaking in urban spaces, revitalized luxury boulevards, and reinvented high streets.
Finally, we present best-practice examples of urban retail destinations already putting these ideas into action. These places invest in public space, combine commercial and non-commercial uses, welcome local life, and allow room for change. They demonstrate that long-term value is built less on scale and more on closeness — physical, social, and emotional.
This series is not about abandoning commercial logic. It’s about updating it. As cities move toward proximity, retail real estate has the opportunity to evolve with them — and to help shape the next chapter of urban life.
Dive into our article series and get your copy of ACROSS 1 | 2026.
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