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Nearly 60% of commercial real estate (CRE) leaders and 55% of brick-and-mortar retailers expect a return to pre-pandemic levels by the end of the year, according to a survey conducted on behalf of International Council of Shopping Centers (ICSC).
The survey found two-thirds of retailers began offering in-store fulfillment of online orders in response to the pandemic, while 73% of small retailers implemented a click-and-collect option. Close to 88% of shopping centers are being used to fulfill online orders, and 99% of retail respondents reported their stores fulfilled online orders to some degree.
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Past Governor, National YEA Chair, American Society of Heating and Refrigeration Engineers Chair, Stantec Innovation Committee
OFF THE CLOCK Passion for inventing. Over the years I have designed and built a go kart from a power washer, destroyed and then rebuilt a working car before I even had my driver’s license, designed a real-time residential energy meter (more details below), and developed a travel hot tub. Hobbies: Amateur astronomy, camping, golfing, hiking, inventing Most memorable vacation: A month-long, cross-country, post-university trip from Vancouver to Kingston, Ontario, in 2006, to sail an autonomous sailboat in the first national autonomous sailboat competition.
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It’s one of New York City’s biggest real estate events of the year: Thousands of attendees fill the Jacob Javits Center for the International Council of Shopping Centers retail show.
The December event was canceled, as virtually everything was last year. But today, Javits is one of the vaccination sites the real estate industry is counting on to bring New York back to pre-Covid life.
In the parlance of real estate, widespread vaccination is seen as a leading indicator. Real estate’s recovery is expected to follow, though some segments are expected to take longer than others.