David Phelps Quoted by Law360 on 2016 Retail Real Estate Trends
Law360, for its article “4 Areas Of Retail Real Estate To Watch In 2016,” quoted Akin Gump real estate partner David Phelps on upcoming trends to be seen in the retail real estate sector.
Of big-box department stores downsizing their leases, Phelps noted, “Small retail categories will increase as a result of downsizing of once-larger tenants going into smaller spaces. Demising large boxes ... into multimidbox tenants will continue to be an alternative for landlords to back fill large spaces.”
In the restaurant space, Phelps noted that there will be continued competition in the next year, saying, “Food-use categories will continue to increase and decrease based on market trends. For every fun new restaurant that starts up or enters a new market, an older restaurant loses customers.”