Article
CBRE Repositions for Retail’s Next New Era
June 21, 2022 3 Minute Read
The pandemic brought profound change to the retail world, and CBRE’s Alex Edmison sees the pace of change continuing to accelerate. “I believe we are going to see more change in the next five years than in the next 50.”
Among the many changes has been the evolution of retail from being a standalone property to being a critical component of larger, mixed use assets.
With new innovations, technologies and consumer habits taking shape, CBRE Canada is evolving its retail practice to remain at the forefront of the change and guide clients to new areas of opportunity, particularly around mixed-use development and consumer retail.
Two of Canada’s top retail leaders, Edmison and Kate Camenzuli, are helping to capitalize on this new era in retail.
Edmison heads up CBRE’s new Mixed-Use Retail Practice group. “I’m ensuring we are on the forefront of the evolution in this market and attuned to the nuances of how retail integrates into mixed-use projects.”
Camenzuli will lead CBRE’s new Consumer Retail Practice, serving as a resource for consumer-based businesses requiring multi-market retail tenant representation. “We’ll be leading the charge for what the next generation does in their retail spaces,” says Camenzuli.
“We’re seeing major changes in the consumer retail space,” she adds. “Direct to consumer business are starting to pick their brick and mortar locations. We’re seeing last mile distribution go out of the back of retail spaces.
“We’re also doing a lot of cross-border business. In the last month we’ve seen 15 new brands looking to come into the Canadian market in various shapes or forms.”
Connectivity is Key
Connectivity is everything in the new era of retail, and CBRE’s Canadian retail group is aligned with the best brands and companies in the world and can serve clients both large and small. The team boasts unmatched experience with high-street urban environments, power centres, grocery anchored, neighbourhood strip, outlet and mall formats.
Camenzuli notes that she and Edmison are particularly well-placed to facilitate deals for clients.
“Alex knows the components of real estate better than anyone else in the country, and I have my finger on the pulse of how retailers are going to select and utilize physical space,” she says. “We work together to make sure that the right groups go into the right pieces of space.”
Edmison says change is the new norm and static retail strategies are dead in the water.
“Change isn’t stopping or slowing, so we’re focused on connectivity and sharing of information with CBRE’s entire national retail platform. Above all else, it’s about helping our clients to see the opportunities that can come amid all of the change.”
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