No he climbs back in his saddle, if just to bid his time.
For the cowboy knows…a good death is hard to find!"
Longmire TV Show – AE & Netflix
I was thinking about the future of real estate and the above came to mind. In the paper last week was an article about Sams Club closing a bunch of stores. Earlier Macy’s announced they are closing more stores. Reports are that Penny’s and Sears are on their last legs. Do you notice a trend?
Most importantly how is this going to affect real estate, especially commercial. You can’t drive a mile in South Florida without passing a commercial strip center. Every 10 miles or so is a mall. The problem is the face of shopping is changing. Online shopping was unheard of a generation ago. My granddaughter is 6 years old. By the time she has children will she tell stories to them about the time people had to actually drive somewhere to shop? Will her kids believe her?
So what is going to happen to all these retail centers when no one is buying retail? As the big box stores keep closing can the “little” box stores be far behind? At some point the supply of commercial space is going to far exceed the demand. If I was a big Wall Street investment firm I would be taking a hard look at my commercial investment portfolio.
There’s still time because it’s not going to be quick. No, retail is locked in slow death spiral. It may take years before we talk about the death of Macy’s and Sears they way we remember Burdines or Jordan Marsh. That’s not surprising because just like on the range, in real estate….
A good death is hard to find.
Thanks for reading.
Exit Realty Premier Elite
Author:Gary Benson Phone: 561-445-2331 Dated: January 30th 2018 Views: 51 About Gary: ...
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