Editor’s Insights: Watching Retail Trends in 2024

There’s a lot on retailers’ minds these days. To name just a few, e-commerce, brick-and-mortar stores, personalized shopping, sustainability, data extraction, economic pressures, and profitability. From shoplifting to relocating, how does retail attract customers in 2024? We address many, if not all, of these concerns in this issue of Trend Report.

Meanwhile, our cover story is Tucson Hits the “Jackpot’ with New Casino on Pascua Yaqui Land. The economic impact of a new casino is going to be a welcomed addition to Central Tucson. The Pascua Yaqui Tribe has assembled approximately 30 acres around the site formerly known as Century Park 16 Theaters, at 1055 W Grant Road. The new Casino de Sol has a fascinating background brought to us by Veronica Otero Escobar, a PYDC Property Manager for the project. Thank you, Veronica!

Nancy McClure First VP with CBRE brings us her annual Big Box report in CBRE Reports Tucson Retail Big Box Robust in 202, reminding us of the dynamic and ever-changing retail world. Thanks Nancy!

Rob Tomlinson with Cushman & Wakefield | PICOR advises investors of internet-resistant retailers in Internet-Resistant Retailers: The Ideal Post-Covid Tenant Mix. Thanks Rob!

Out with the Old, In with the New: The Bifurcated Retail Market in Tucson speaks to the different market trends that come and go and those shaping our market. Andres Rubal, MAI, at Axia Appraisers does a deep dive into the many conversions banking branches have taken in our community, and as Andres says, “When was the last time you physically walked into a bank?” Point taken. Thanks Andres!

Joey Castillo with Volk Company is a first-time Trend Report contributor who brings a unique outlook to CRE as a former retail manager. He describes what he sees happening in net lease investments in The “Snowball Effect” Has Hit Tucson’s Net Leased Market. Thank you, Joey!

For those who couldn’t make the CCIM Forecast Meeting, we’re pleased to have a Special Report: CCIM’s Forecast Meeting Synopsis as only George Larsen, CCIM, and Co-founder of Larsen Baker can do. Way to go George!

Words of wisdom from Susan Moore, an Appraiser in the Intermountain Region of CBRE in The Appraisal Process for Under-Stabilized Retail. I learned a great deal reading it. Thanks Susan!

If you’re not using GIS maps currently, Patrick Sullivan will persuade you in Retail Outlook Through Cutting Edge GIS. This is so cool! Thanks, Patrick!

It’s been said many times and in many ways, but Regan Amato, Senior vice president at JLL, explains retail growth in Population Growth Drives Arizona Grocery Sector, Despite Economic Shifts across the Grand Canyon state. As one of the nation’s fastest-growing states, this means more shoppers. Thanks, Regan!

Then it was my pleasure to sit down and ask some questions about our current retail market to Paul Schloss with NAI Horizon. With 50 years of experience in retail, he had some enlightening answers to my many questions. We think you’ll enjoy reading them in Trend Report Interview with Retail Broker Paul Schloss. And thanks again, Paul!

We end this Retail issue with the Top 5 Tucson Retail Sales, Openings (locally), & Closings (nationally), concluding with the tough decisions needing to be made in Federal Reserve Official Have Tough Policy Choices Ahead from the NRF Chief Economist, Jack Kleinhenz.

We sincerely thank everyone who helped with this Trend Report issue. Without the involvement of these individuals sharing their knowledge and time, these reports would not be possible.

We also thank our Trend Report team: Patti van Leer, Michael Rossmann, Melissa Vucijevic, and Jack Paddock.

We’ll start work right away on our “Industrial Issue” – you won’t want to miss this one, but I think I say that every issue.

We also thank you, our readers, for your continued support. As always, we appreciate your feedback and welcome your comments. Come tell us “Hi” at https//trendreportaz.com under the Connect tab.

Stay Sharp with Actionable Insights!

Karen Schutte,
Trend Report
Managing Editor

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