Stephanie Cegielski, V.P of Public Relations at ICSC, joins host The Commercial Real Estate Show to talk about retail property cap rate trends, rising interest rates potentially affecting cap rates, and future forecasts impacting the retail property market. Highlights include:
- Forecasting 3.8% year over year growth in holiday sales this season across all mediums, i.e. both online and brick and mortar
- 96% of Consumers will make use of brick and mortar retail during season
- Consumers are confident and comfortable this year, more than last
- Apparel, toys, electronics are most in demand
Interestingly, when asked about brick and mortar retail sales, instead of making a projection, she – politician style – answered a different question about what percentage of consumers will shop at brick and mortar stores. Thus, the most pressing question about retail, and thus retail properties, she seemingly avoided, noticeably so. Hmm. I wonder why this might be. I wonder…