Retail Changes Impacting the CRE Industry

Members of the Northern New Jersey RPN Mastermind Group met this month to discuss several areas within the market, including the growth of “experience” showroom retail where customers can view new products and order online for next day delivery vs. the traditional shopping experience. Guest Michael Busch of MBArchitecture and Design noted that retail is changing in many ways and mentioned the Dyson retail location in NYC as an excellent example of the experiential model being seen in the region.

RPN CEO Rick Lackey was on hand to lead the meeting and bring members up-to-date on some of the other member markets, highlighting the dynamic growth and redevelopment of the Detroit office, residential and industrial markets. Other topics included the impact on the cost of storm water treatment facilities in Detroit and on future role of new and developing technologies, such as artificial intelligence (AI) and the “internet of things,” on the real estate market and how we will see similar impacts across the RPN cities.