News Releases - Thursday, November 6, 1997
THIRD WAVE CHUTZPAH predicts a transformation in store based retailing as online shopping cannibalizes sales in three to five years. Only an eight to twelve percent shift of in-store sales to cyberspace may trigger a radical change in retailer leasing practices. The new retailer leasing strategy will require very short-term leases, three to five years, with multiple options and expansive early termination rights. Online shoppings impact on retail properties has significant implications for investors and lenders.
Mark Borsuk, Managing Director of The Real Estate Transformation Group, gave the talk at the National Retail Federation Financial Executives Conference on September 22, 1997 in San Diego.
On October 26 at the International Council of Shopping Centers Law Conference in Palm Desert, Borsuk hosted a roundtable discussion regarding online shoppings impact on retail leasing. Over sixty percent of the participants were attorneys representing retailers. Online shopping is about to become a contentious issue for landlords and tenants.
Borsuk will participate in a panel discussion entitled Technology and Real Estate-Miracle or Fads? at the Urban Land Institutes annual convention in New York on November 7. Panelists will address how information technology impacts commercial property use and value.
The Real Estate Transformation Group is a firm advising landlords, tenants and lenders on property use and value in the Information Age. In addition to consulting, Mark Borsuk is a retail leasing broker and real property attorney practicing in San Francisco.
Contact: Mark Borsuk (415) 922-4740 / firstname.lastname@example.org
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