The theatrical phrase “to be continued” usually signals an exciting story twist is coming. But anyone hoping for a plot twist next year to the ongoing saga of shrinking apparel retailers won’t be happy with the comments by several top retailers in this segment during quarterly earnings conference calls this past week.
Clothing retail executives generally issued more dour projections calling for more of the same ongoing reassessments of existing store footprints as they make major business adjustments and invest in advancing online sales in a similar situation faced across the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space.
Nearly all apparel execs said they plan to continue closing unprofitable locations, pressing landlords throughout the U.S. and Philadelphia commercial real estate market for concessions, and pushing outlet strategies.
This report, which takes a market-specific look at both national and Philadelphia commercial properties, was made available through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.
Commentary from retailers peddling other consumer goods throughout the U.S. and Philadelphia commercial real estate market offered more encouragement, however.
The strategies remain the same because the macro trends driving these specific sectors of the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – still are in place. Consumers have not returned to the debt binging from before the Great Recession of 2008-’09, which killed off an era of excess.
Not only have consumers become more cost-conscious and using rapidly changing technologies to guide their buying decisions, they are also rethinking priorities and re-assessing the value material possessions over the best use of their time.
For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Leor Hemo (leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.
Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.
Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.
As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals. If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.
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