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Real estate research

Think: De-cluttering the U.S. retail landscape

Melissa Reagen
Head of Research, Americas, Nuveen Real Estate
Ala Moana

We believe there are compelling buying opportunities for high-performing1 power centers, lifestyle centers, neighborhood/community centers, grocery-anchored centers, and malls. We expect high-performing, experiential retail properties will continue to thrive in the coming decades, while average and low-performing retail centers will die a slow death or be repurposed. Rising online retail sales have been one of the catalysts behind the shuttering of mediocre retailers and shopping centers, however it has also provided retailers with greater operating efficiency and the ability to offer a more curated, personalized shopping experience.

1 Our definition of high-performing malls are those rated ‘A’ or above and high-performing shopping centers are those with four or more stars. See Costar Building Ratings System for definitions of one to five stars.