Re-energizing Retail
Re-energizing Retail
In response to a rapidly changing retail environment, we’re seeing an increased abandonment of commercial property types. Namely mixed use, the quick diminishment of indoor and outdoor malls and sprawling retail centers has left developers with the challenge of over-developed, under-utilized real estate, wondering what to do with “the leftover boxes…plaguing municipalities all over the country.” Unlike other cases where classic use can weather a century, these buildings have commercially, socially, and economically aged out in just a matter of decades. Now with rising construction costs, there’s an increasing interest in retrofitting and repositioning older properties, capitalizing on newer trends and building value. SITE solutions is re-energizing run-down real estate with new points of sale, and a more intentionally defined community space bringing old gathering places to new life.
In response to a rapidly changing retail environment, we’re seeing an increased abandonment of commercial property types. Namely mixed use, the quick diminishment of indoor and outdoor malls and sprawling retail centers has left developers with the challenge of over-developed, under-utilized real estate, wondering what to do with “the leftover boxes…plaguing municipalities all over the country.” Unlike other cases where classic use can weather a century, these buildings have commercially, socially, and economically aged out in just a matter of decades. Now with rising construction costs, there’s an increasing interest in retrofitting and repositioning older properties, capitalizing on newer trends and building value. SITE solutions is re-energizing run-down real estate with new points of sale, and a more intentionally defined community space bringing old gathering places to new life.