Schuckman Realty Market Update – March 2025
Retail & Leasing Trends
• Mall Traffic Holding Steady Despite Consumer Headwinds
February saw flat mall visitation, even with a boost from Valentine’s Day, according to Placer.ai. Indoor malls were down 3.8%, while open-air centers dropped 4%. Despite this, key retailers continue to expand, signaling confidence in long-term demand.
• E-Commerce Surge Continues
U.S. online spending is projected to hit $1.4 trillion in 2025, with total global online sales reaching $4.4 trillion, per Omdia. While brick-and-mortar faces challenges, retailers are adapting with omnichannel strategies that merge in-store and online shopping.
Major Retail Developments
• BJ’s, Burlington & Uniqlo Expansion Plans
These brands remain aggressive in growing their footprints, focusing on high-traffic retail corridors. Burlington continues site tours, and discussions are ongoing to secure anchor spaces for BJ’s and Uniqlo.
• Wendy’s Plans 1,000 New Locations by 2028
The QSR giant is doubling down on growth, looking to expand in key U.S. markets. Expect increased demand for pad sites and drive-thru locations.
• Dine Brands (IHOP/Applebee’s) Expands Dual-Brand Concept
With 13 new locations coming in 2025, we’re seeing more efficiency-focused concepts where two brands operate under one roof. This model could work well in dense urban areas or redeveloped shopping centers.
• Ross, American Eagle & Uniqlo All Expanding in 2025
While apparel retailers face pressure, strategic players like Uniqlo are aggressively growing in key locations, including shopping centers in Canada. Ross and American Eagle continue their measured expansions, with Ross adding 90 stores this year.
Investment & Financing Trends
• Retail Loan Markets Remain Active
Financing is still moving, but lenders are more selective. Investors targeting high-credit tenants and strong retail corridors continue to find opportunities.
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