The Mid-Atlantic remains one of the country’s healthiest retail markets, but growth today is defined by discipline instead of speed.
SRS’ Andrew Fallon and Arris Noble weigh in on this topic in a recent Shopping Center Business article, discussing how retail across Virginia, Maryland and Washington, D.C. is being affected by constrained supply, rising costs, and changing consumer behavior.
Key takeaways:
• Limited development sites and rising construction costs are pushing investors to reposition aging retail properties.
• Tight inventory is giving landlords greater selectivity in tenant mix, lease terms and merchandising strategies.
• Retailers are prioritizing locations where people live and spend time, boosting demand for neighborhood and mixed-use centers.
• Retailers are shrinking footprints and adapting store layouts to secure space in high-demand centers.
Read the full article at Shopping Center Business.