Impact of Target closures on commercial real estate

A recent report published by Avison Young said urban intensification and retailers’ adaptation to e-commerce will continue to alter the retail landscape in 2015.

“Looking ahead in the retail sector, marketing budgets are expected to increase as stakeholders invest in physical and digital assets, as well as new concepts, and measure consumer habits, fuelling the ‘Big Data’ phenomenon,” added Bill Argeropoulos, principal, practice leader, research (Canada) for Avison Young, in a release.

Bruce Firestone, an investor and Realtor based in Ottawa, highlighted the same issues in an interview with CREW, pointing specifically to the challenge for investors to rent strip mall retail space.

“The Internet is changing the game,” he said. “There is more online shopping. That is affecting department stores, but also the people who would have gone into strip malls. If you’re an investor and own a strip mall, you’re going to find renting it more and more difficult.”
Bruce Firestone and Claude Boiron will both be speaking at CREW’s Toronto InvestorForum, which will be held on March 28 and 29 at The Internatinal Centre.

Find out more about the InvestorForum and register here

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