Retail Real Estate's 2009 in Review
Dec 29, 2009 9:05 AM
The most difficult year in retail real estate’s history is at an end. The worst case scenarios played out in terms of a hostile leasing environment, a dormant investment sales market, challenging lending conditions and troubled retailers.
Yet it wasn’t all bad and the situation began to stabilize much more quickly than many thought it would.
While there were many store closures and bankruptcies, experts thought we were going to see more. In addition, the year brought with it an important change as retailers, owners and managers began to embrace social media—something that promises to shape how consumers shop in the years to come especially as more mall-centric applications are developed for mobile devices. And the industry seems to have gotten through the all important holiday shopping season in decent shape. As a result, the coming year looks to be the start of the industry's recovery.
Before that begins, we decided to take one last look at the year that was in retail real estate.
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