A Red Herring in Retail: As headlines rattle retail, we sense opportunity (Abstract Only)

September 2017

Real estate conditions remain largely unchanged from earlier in the year. The labor market has grown increasingly tight, consumer spending growth is strong, and corporate investment has grown substantially. As a result, demand growth remains healthy across all real estate sectors and we believe near term prospects appear bright. According to the popular narrative though, the outlook for the retail sector is much darker. Our analyses, however, suggest that while the sector is facing some headwinds, concerns for its near term health are largely misplaced due to inaccurate perceptions of the role, size, and growth of e-commerce. Far from worrying about retail’s near term prospects we see potential opportunities to achieve additional yield emerging as an increasing number of market participants grow more cautious.

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