Shopping behaviors are rapidly changing. The pandemic instantly advanced e-commerce penetration by 4 to 6 years, meaning the consumer of 2025 is here today. Property owners need to kick their transformation plans into high gear even sooner than planned.
A major piece of this puzzle is tenant mix. At a macro level, there may be big reductions in the percentage of a center’s square footage devoted to retail since mixed use developments — where people can shop, work, play and sleep — continue to grow in popularity.
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