Remember the old adage that “retail follows the rooftops”?
If you do, then you probably have fond memories of the Eisenhower administration, the post World War II suburban building boom when Sears Roebuck and J.C. Penney ruled the retail roost, and Sam Walton’s 5&10 variety store in Bentonville, Ark.
So much for nostalgia!
For 2015 and beyond, following those rooftops — the population centers retailers crave to be near — will get trickier. Fewer of them are being built, and they are no longer where they once were. Concurrently, premium locations are getting more expensive and some lenders, unsure of what new retail formats will look like, are keeping a lot of cash on the sidelines until they see another shakeout. [Read more…]