NEW YORK CITY – Talks about a slowdown in commercial real estatehave been constant. However, developers and retail landlords aresteadily rolling out projects to create value, while also thinkingabout storing cash in the long-term.
|"There's been a consistent flow of projects because people areready to weather the storm this time," Rob Budetti, partner at AOArchitects, specializing in commercial, retail, hospitality andmixed-use, tells GlobeSt.com. "They are storing away cash and willbe ready to do projects."
|In the retail sector, there has been the repositioning ofmixed-use projects, such as the commercial consolidation of largeretailers such as Sears, Macy's and JC Penny to maximize usage andcreate new value, according to Budetti.
|The hunt for cash flow through subleasing to keep the ballrolling in the sector is key and has been a noticeable strategy toreduce overhead costs and boost the performance of low performingshopping malls and centers, RC Alley, partner at AO Architects,specializing in multifamily and mixed-use, tells GlobeSt.com. "It'sall about flexibility," he said. "It helps to create asense of place."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Unlimited access to GlobeSt and other free ALM publications
- Access to 15 years of GlobeSt archives
- Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
- 1 free article* every 30 days across the ALM subscription network
- Exclusive discounts on ALM events and publications
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.