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Real Estate Buzz
 Brian Miller Real Estate Editor |
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May 28, 2020
On the Block: After COVID-19, will traditional retail recover or die? Both, say the experts
Get ready for “the reformatting of retail.” How and where we shop, both online and in physical stores, have already been radically altered during the ongoing coronavirus pandemic. And, Marcus & Millichap CEO Hessam Nadji also said during a recent webcast, whether there's a COVID-19 vaccine tomorrow or in 2022, that reformatting can't be stopped. “Everything just got expedited,” he added—meaning that all the trends in retail real estate before coronavirus have now achieved terminal velocity and momentum.
After coronavirus, said Nadji, there will be increased retail spending. “We are experiencing an incredible amount of pent-up demand.” Shopping will resume, but not all shops.
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Previous columns:
- On the Block: The day(s) the music died, 05-21-2020
- On the Block: Amazon takes coronavirus in stride, while Prologis warns of supply-chain strain ahead, 05-07-2020
- On the Block: Landlords contemplate the coronavirus impact on retail, commercial rents, 04-23-2020
- On the Block: M&M's nervous take on the coming coronavirus recession, 04-09-2020
- On the Block: RailSpur project ramps up with new hospitality partner, 04-02-2020
- On the Block: The city wants to simplify small-lot apartment construction in Belltown, but will developers bite?, 03-12-2020
- On the Block: As new Nexus owners move in, Burrard is in no hurry to develop more condos, 03-05-2020
- On the Block: The state of downtown is fabulous, except for those inconvenient rush-hour gunfights, 02-20-2020