Admiral Real Estate - Selfdriving Google Car

Driver-less Cars: Impact on Real Estate

Paving the Way

According to the professor of urban planning at M.I.T., Eran Ben-Joseph, as of 2012 there were an estimated 500 million parking spaces in the U.S.  At 100 cars per acre, this occupies approximately 7,800 square miles of land. This represents A LOT of open space – equivalent in size to the entire state of Massachusetts, or one and half times the size of Connecticut. Read More  

Admiral Real Estate - Westchester County Retail Vacancy

Westchester County Retail Real Estate – 2006-2016

50 Million Sq. Ft. in Eight Submarkets

Westchester County has an estimated 50 million square feet of total retail space for its 961,000 residents, a ratio of 52 square feet per capita. This ratio is in keeping with the United States average, although Westchester County retail tends to be in smaller centers. Read More  

Admiral Real Estate - Omnichannel Infographic

Elements of Seamless Retail

The advent of online shopping brought customers numerous new advantages: price comparisons, reviews, convenient browsing, home delivery. But research has indicated that shoppers are beginning to have online fatigue (see our last post on Integrating Online and In-store Shopping).  The ever-increasing availability of information and buying alternatives on the internet has offered consumers almost too many options.  Delivery is appealing, but scheduling deliveries can be a problem, and returns by mail are time consuming. Read More  

Admiral Real Estate - Social Media and Millennials

Social Media Strategies for Retailers

Retail Real Estate and Social Media

While retailers understand the importance of capturing Millennials’ spending power, some are struggling to learn how to adjust their marketing techniques to fit Millennials’ style. Read More  

Admiral Real Estate - How and Why Millennials Spend

Millennials: How Their Different Values Affect Retail Spending

80 Million Strong 

The roughly 80 million Millennials – a generation even larger than the Baby Boomers – were born between 1980 and 2000.  Now 15-35 years old, Millennials are just beginning to reach their peak spending years: building careers, setting up new households and having families.  Due to their sheer numbers and their stage in life, Millennials (also known as Generation Y) are expected to comprise almost one-third of retail sales by 2020. Read More  

Admiral Real Estate - Who Are Millennials

What to Expect in Retail in 2016

This month we’ll be sharing articles on changing shopping patterns, many of which revolve around the Millenials. According to Rahul Sehgal, CIO of Inland Investments, the challenge for landlords and retailers today is to figure out how the consumer thinks.  This is complicated by the retirement of the Baby Boomer generation and the rise of the Millenials, currently in their 20’s and early 30’s, who are driving retail changes related to technology and omni-channel shopping. Read More