Fortune Magazine recently published an article relating to a conversation with the CEO of Kimco Realty, Dave Henry. Henry makes some very compelling arguments as to why strip malls and brick and mortar retail in general is here to stay for a while and why the population demographics will continue to provide ample support. Henry is not the only industry executive to have this opinion. Many retailers and food service outlets also agree by demonstrating with their new store openings.
So, next time you drive by a strip mall which is for sale, think about how it can be re-purposed or the tenant mix can be tweaked to appeal to today’s consumers.