Adam Pagan walks through North Star Mall with his Lego Eifel Tower package after early shopping during Black Friday.The pandemic was supposed to kill brick-and-mortar retail, which had struggled for years against online competitors.
Even e-commerce companies have bought into brick-and-mortar retail, opening stores, showrooms and pop-up shops to extend their reach. More than half of investors who participated in the survey recommended buying neighborhood and community shopping centers. About 23.3 percent suggested buying lifestyle-entertainment centers, while 19 percent recommended buying urban retail.
Average asking rent for retail space in San Antonio in the third quarter was $28 a square foot, unchanged from the same period last year. About 384,000 square feet of space at new and expanded shopping centers with 25,000 square feet or more is expected to be developed this year,The retail real estate firm attributed the paucity to fewer large anchor stores opening, supply chain problems and increasing labor and materials costs.
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