State of the State 2016: Kristen Gizzi of ECCO III Enterprises, Inc.

Kristen Gizzi, ECCO III Enterprises, Inc.

What lies ahead for the global economy?

Real estate is unpredictable and a continuous roller coaster. The real “ride” on the coaster is in retail. Online shopping has forever changed retail for brick and mortar stores. With a swipe of a finger an application can search, find an item at the cheapest price, order and ship for free. What is a retail center owner to do? The answer is destination shopping. Stores, offices and services that require physical attendance–salons, medical uses, restaurants, gyms, etc. Despite an increasing interest in the retail market from years past, retail developers must be more creative and flexible now more than ever with their terms. My advice, find a broker with a team mentality that understands the market–and your needs. When a retail jewel is located, act quickly, entertain creative terms and work with the tenant to create a mutually successful, long-term relationship. 

Kristen Gizzi is the vice president of real estate at ECCO III Enterprises, Inc.