Changes in Retail Presence

Online shopping continues to change the presence and form of brick-and-mortar retail with a recent report estimating up to 25% of the nation’s shopping malls may close in the next five years. Prudent developers, entrepreneurs and municipalities must engage with the vast talent of the commercial real estate professionals in Tampa Bay to lessen potential blight and creatively “re-purpose” purely shopping venues. Read this article to find out more:

Millennials and “Food Hall” Concepts

There is a trend happening in large cities….to put multiple food concepts under one roof, calling them “Food Halls.” Tampa has 2 of these types of retail concepts coming soon :

Food halls, which bring together different restaurateurs in one communal space, are under construction in the Armature Works building on the Tampa Heights waterfront and at 1701 N. Franklin St., where the Hall on Franklin is slated to open in June.

This concept seems to appeal to millennials and Tampa is quickly becoming one of the millennials capitals of the country:

Food halls appeal to adventurous millennial palates, allowing consumers to sample a bit of everything instead of ordering one large meal. They also offer a retail experience that can compete with Amazon: It can’t be purchased online, but lends itself to sharing on social media.

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