Professor Real Estate Suzanne Hollander Moderates Retail Commericial Real Estate Finance Panel - Retail Follows Balconies in Miami

In urban dense people-packed cities like Miami, New York, LA, London, Paris and Tokyo we say “Retail Follows Balconies!” This is so true that it is the topic of a National Real Estate Panel I lead Thursday with Wal-Mart’s Vice President of Real Estate, Stiles’ Vice President of Retail Acquisitions and BB&T Bank’s Senior Vice President of Commercial Lending!

Crittenden Real Estate Finance Conference

Look around you! Dense people-packed cities are full of balconies. When I say “balconies” I mean condo and apartment buildings! People live vertically in dense packed cities. One condo, coop or apartment building could have between 100-800 units in it with a lot of people calling that address home!

Big box retailers think KACHING$$$ because people living in dense people- packed cities need to buy things! Big Box Retailers are becoming flexible to meet this demand! They are building “big box” stores that are compatible with the urban lifestyle!

Downtown Miami is just one example! Since 2005, approximately 75,000 new units were built and people live in these units. This density attracts big box retailers like Publix Supermarkets and Wal-Mart to enter the Downtown Miami market and cater to people living there who need to buy stuff!

Big box retailers show their flexibility to meet this urban demand by building smaller more focused stores. For example, Publix just opened a +/- 40,000 SF supermarket in Downtown Miami at 17th and Biscayne – spurring interest in the neighborhood and increasing property values! Wal-Mart just opened a +/- 31,000SF store in Hialeah and is working with the City of Miami to open a new store in Mid Town that will fit in with the community!

This Big Box flexability creates a number of profitable opportunities for urbanites! First, people living in dense cities now may enjoy the same bargain prices as people living out the ‘burbs! Second, the Big Boxes create jobs! Third the Big Boxes increase property values by creating interest and traffic in the neighborhood! Fourth, for this reason a lot of smaller retailers locate near a Big Box to take advantage of the increased traffic! Check out my blog for more info on how Super Markets/Big Box Retail Make Neighborhoods “Super.”

Learn Something Real Estate! Contact me to learn more about how retail Big Box Development positively impacts urban communities!

Contact me for speaking engagements about creating freedom through real estate.

Disclaimer: Professor Real Estate® written materials apply generally to real estate subjects and are not intended to apply to specific legal issues.

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