Retail Property Management Enters Its Next Phase: Integrated, Experiential And Connected

Retail property management isn’t what it used to be. The business has evolved from maintaining buildings and collecting rent to curating experiences, building communities and creating environments where people want to stay longer and come back often.

This is the new reality of retail that Evan Walke, Cushman & Wakefield's managing director and national retail lead for its Asset Services group, is seeing. Walke said this evolution is accelerating as mixed-use developments combine retail, multifamily, office and entertainment into a single, dynamic ecosystem.

“At Cushman & Wakefield, we’re seeing firsthand how these changes are reshaping what clients expect from their property management teams and how our approach is adapting to meet that moment,” he said. 

From Managing Space to Managing Experience

Traditional retail property management was largely transactional: Keep the lights on, collect the rent and manage maintenance. Today, retail is increasingly experiential. Shoppers expect activation and engagement, from pop-up markets and public art to digital touchpoints that extend beyond the walls of the property.

“For property managers, that means shifting from operational oversight to experience orchestration,” Walke said. “Every decision, from how common areas are programmed to how tenants are supported on the marketing front, helps define the overall brand of the property.” 

That’s why Cushman & Wakefield created a dedicated Asset Services group. The goal is to bring specialized expertise to an asset class that requires a distinct operational mindset. 

“Retail is public-facing, fast-moving, and deeply dependent on the success of its tenants,” he said. “The work doesn’t end when a lease is signed – it begins. Helping tenants open faster, perform better and stay connected with customers is now a core part of the job.” 

The New Shape of Retail: Mixed-Use and Reimagined Malls

Across the country, traditional malls and suburban shopping centers are being reinvented. Owners are transforming underperforming assets into vibrant mixed-use communities that bring shopping, dining, living and working together in one connected environment, Walke said. 

At properties like The Boro at Tysons, a 2M SF mixed-use development in northern Virginia, Cushman & Wakefield manages not only the buildings but the public realm as well. This includes the shared streets, plazas and open spaces that define the community’s character.

“That responsibility requires a hospitality mindset,” Walke said. “Managing the public realm means curating experiences, coordinating events, overseeing marketing activations, and ensuring the environment feels safe, clean and engaging for the thousands of people who interact with it every day. It is where property management, marketing and placemaking converge.”

He added that they are also seeing owners take the same approach to adaptive reuse projects, reimagining aging malls as mixed-use neighborhoods. 

“As one executive put it recently, ‘If you can’t fill the stores, fill the street,’” Walke said. “The retail core becomes the anchor for a more diverse and resilient ecosystem.” 

The Power of an Integrated Platform

What makes this new era of property management work is integration.

Clients no longer want fragmented services, with one firm for leasing, another for operations and a third for engineering. They want a single, connected partner that understands every aspect of the asset and can link strategy to execution.

This is where Cushman & Wakefield’s platform stands apart. 

“Our property management professionals work seamlessly with brokerage, asset services, multifamily and capital markets teams to deliver a unified experience that drives performance and value,” Walke said. “When our engineers, marketing specialists and service providers collaborate with property management on a single property, the results are tangible: faster tenant openings, stronger customer engagement and higher-performing assets.”

Presence, Cushman & Wakefield’s in-house tenant and customer experience platform, enhances how the firm engages people and activates places.

“By partnering closely with the Presence team, we bring the principles of hospitality and placemaking directly into retail operations through curated events, on-site experiences and digital engagement that strengthen connection and drive performance,” Walke said. 

Scale and Specialization

Cushman & Wakefield manages more than 34M SF of retail space across the Americas, including over 4M SF in New York City and a significant mall portfolio in Canada.

“This scale allows us to deliver consistency across markets while tailoring solutions locally,” Walke said. “It could mean managing a high-street retail block in Manhattan, a mixed-use redevelopment in Florida or a suburban neighborhood center in the Pacific Northwest. 

But scale alone is not enough. The future of retail property management depends on specialization and understanding what makes retail different. 

“From tenant construction oversight and co-marketing to real-time sales tracking and performance metrics, our teams help owners and tenants align around the same goal: creating places where business thrives and people want to be,” Walke said. 

A Look Ahead: Property Management as a Growth Engine

The retail sector continues to surprise skeptics. Even as online commerce grows, well-managed physical retail remains central to community life and investment portfolios. Success today is no longer measured only in foot traffic or rent rolls; it is measured in engagement, dwell time and long-term vitality.

That is why owners are turning to property management, not just as an operational necessity but as a strategic growth driver. The right management team can enhance brand perception, elevate tenant performance and retention, and increase asset value.

“At Cushman & Wakefield, we see this as the next chapter of property management: integrated, experiential and built for the future of retail,” Walke said. “The properties we manage today are not just shopping destinations; they are living ecosystems that connect people, commerce and community.” 

This article was produced in collaboration between Cushman & Wakefield and Studio B. Bisnow news staff was not involved in the production of this content.

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