Retail CRE changes with consumer demand and retail trends, and since 2020, CRE retail has changed in response to the pandemic. Vacancy rates rise during economic downturns and occupancy rises when the economic situation improves. Properties change as the economy changes. On the other hand, it seems like junior box retailers – stores that are more than 15,000-square-feet – are a lot more risk averse to expanding and in fact, a lot are reducing their stores count, or closing altogether.”
It seems like everyone is expanding and some quick serve restaurants that never incorporated drive-through before are starting to incorporate it now. “On the one hand, I have never seen such demand for new drive-through restaurants in good areas. “Retail commercial real estate (CRE) in Nevada is a tale of two cities, really,” said Chris Richardson, CCIM, director, Logic Commercial Real Estate.
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