HOUSTON -
April 29, 2020 -
PRLog --
Commentary By Patrick Duffy, MCR | President | Houston
Retail TrendsColliers generally uses this space to discuss the trends we see in market data and in conversations we have with our clients, prospects and friendly competitors. We take that data and attempt to project activity going forward. The bulk of the first quarter was, for all practical purposes, pre-COVID. Net "move-in" data, as well as new leases signed, were likely unimpacted for Q1 based on the virus, or only marginally impacted. Our industry has a lead time of at least 4-6 months prior to a lease being signed or space made ready for occupancy. The real impact of this COVID crisis will not present in the data until Q2 and Q3. Retail is the sector hardest hit by the economic shutdown that came from the social distancing strategy to mitigate the impacts of the virus.
Some restaurants have tried to keep revenue generation in place through curbside service and home delivery. The bulk of the traditional dine-in concepts are reporting a drop in revenue of as much as 90%. Only food and essential supply retailers have been able to maintain anything approaching normal revenue during this lockdown. Amazon has been the big winner. Smaller "mom and pop" retailers will be the hardest hit as most lack the financial reserves to weather this shutdown. A recent survey showed that most smaller retailers had... To read the full report, click here:
https://www2.colliers.com/en/Research/Houston/Q1-2020-Houston-Retail
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