When it comes to the retail sites with primo locations, they're almost all fully leased. Yet it’s hard to give away space in a bad shopping center, says Jones Lang LaSalle market research director/VP Walt Bialas (he’s the one in the hat, umm, the cowboy hat, with his pal, Ace). The gap is widening for the haves and have-nots, Walt tells us. Nationwide, centers under 80% occupied are having a difficult time recovering.
Retail is in transition, Walt says, as it reinvents itself. Plus, there's a new catchphrase: web-roaming. Consumers are doing product comparisons online and then purchasing at the brick-and-mortar store (or it can be done the other way around, Walt says). There are also mobile apps for shopping and allowing consumers to interact with the retailer. Away from the office, Walt likes to take Ace out to the White Rock Lake Farmer’s Market. Ace has his own fan base out there.
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