Overall, the retail market is in a very healthy space as essential retailers have been thriving. So says Mike Sladich, Regional Director and Partner of Stan Johnson. GlobeSt.com spoke with Sladich among a few other retail experts about all things retail in preparation for the upcoming RECon convention. The event will be hosted this year by ICSC on December 5-7 in Las Vegas.
According to Sladich, tenants who are susceptible to e-commerce, have effectively experienced the worst-case scenario for brick-and-mortar sales. But he says, “these non-essential retailers can now better model their businesses moving forward and optimize their spaces as consumers return to stores.”
Additionally, he says, “as we review financials and sales data for sale-leaseback candidates in the retail sectors perceived to be hit hardest, like casual dining restaurants, family entertainment centers and fitness centers, we’re seeing that their business in recent months has surpassed pre-COVID-19 levels.”
According to Sladich, the pent-up consumer demand for these experiential retail tenants has been substantial and may be even more important moving forward as the population desires a return to routines.