Spectrum News recently interviewed local retail real estate leaders, including Coreland Companies’ Cheryl Todd, regarding the transformation of brick-and-mortar retail throughout the Pandemic. Click here for the complete story.
Of all the industries impacted by the coronavirus pandemic and subsequent government shutdowns, brick-and-mortar retail arguably suffered the most. The sector saw a record number of bankruptcies, vacancies, and store closures. But the pandemic also served as a transformation that could change how people shop and visit retail centers in the future.
Cheryl Todd, a principal at Coreland Cos., a third-party retail management company that oversees five million square feet of retail centers in Southern and Northern California, shared: “… Retail changed a lot. A lot of businesses closed their doors. Obviously, we still had lenders, debt services, tenants that couldn’t operate. Many landlords proactively addressed [financial issues] with their tenants, such as providing rent deferrals to be repaid at a later date.”
Todd said people often forget a real human element when it comes to the pandemic’s emotional toll on business owners and landlords…
Visit Spectrum News for the complete story.