April 26, 2021
Pandemic Accelerates the Addition of Mixed Uses to Open-Air Retail

Open-air shopping centers have benefited from the pandemic, with many retailers moving from enclosed properties to the open-air format, according to Atlanta-based Chris Decoufle...

Pandemic Accelerates the Addition of Mixed Uses to Open-Air Retail

While open-air centers have performed well in themselves, the addition of mixed uses makes them even more attractive to investors.

April 21, 2021 | Patricia Kirk | Wealth Management

Open-air shopping centers have benefited from the pandemic, with many retailers moving from enclosed properties to the open-air format, according to Atlanta-based Chris Decoufle, a senior member with the capital markets retail team at real estate services firm CBRE.

Open-air centers provided retailers the ability to remain open even during the depth of the pandemic and offer shoopers a safer, socially distanced shopping experience, Decoufle says. They were also able to accommodate new or expanded uses, such as space for outdoor dining and curbside pick-up of purchased merchandise, takeout food and groceries ordered online.

Plus, in addition to featuring a diversified tenant mix that can range from grocery stores to coffee shops to fitness centers and medical office providers, open-air centers can now also serve as “last mile” distribution centers for e-commerce operators like Amazon.

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