Location, Location, Location however Timing becomes now a critical driver.
In USA we are not familiar with "IKEA Retail Parks". IKEA, the world's biggest furniture retailer, has enough weight by itself with the 40+ stores across the US.
The strategy of selling about US$ 1 Bn of the parks in Europe has a big impact in the commercial real estate market, mostly understanding the reasons behind the big deal. According to this article by Bloomberg, one of the opportunities they see is a boom in commercial real estate fueled by low interest rates however they will keep some of the parks that create synergy as family friendly spaces.
The reduction in mall traffic around the world is causing that commercial areas as shopping centers or big-box stores have to reinvent themselves to attract the general public and customers that no longer see the malls as the place to shop. Entertainment, food and social activities become critical when directing shoppers. Traffic patterns and marketing intelligence become the technology required to help taking the proper adjustments.
Enjoy this article and be prepared for new trends to come.
AXIObp is Authorized Distributor for USA and Latin America of SEEKETING, the technology that allows tracking general public and clients along with analyzing detailed in-store and on-line behavior, valuable insights for store remodeling or opening / closing decisions.