Re-Purposed Retail Space
Due to e-commerce, many retail assets were in the midst of a transition prior to COVID. The pandemic has simply accelerated this and caused asset managers to quickly reconfigure retail space where possible. In some cases there are examples of large swaths of retail converted to "last mile" warehousing. As the market continues to shift and evolve there will be greater need for highest and best use (re-positioning) studies, intensification opportunities, and other situations where the existing asset is not what it appears to be.