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Jason Ryals joins The Intersection of Industrial and Retail panel discussion at NAIOP luncheon

Storefront retailers are adjusting their footprints by building smaller stores and incorporating distribution at those sites.

Amazon.com might not be pillaging the viability of brick-and-mortar retailers to the extent feared, but it has forced an about-face at storefronts and a transformational shift in warehousing and distribution. 

“Everybody has to respond to the Amazon effect,” said Peter Anderson, vice president of development for Pattillo Industrial Real Estate, at a panel discussion Thursday.

Anderson joined Jason Ryals, Colliers International Executive Director; Luke Pope, executive vice president of the JLL real estate company; and Jonathan Heldebrand, chief investment officer of Sleiman Enterprises Inc.

Consultant and business coach David Sillick moderated “The Intersection of Industrial and Retail” discussion at the quarterly luncheon of the NAIOP Commercial Real Estate Development Association Northeast Florida Chapter. 

Ryals said storefront retailers are adjusting their footprints, especially the larger big boxes like Ikea, by building smaller stores and incorporating distribution at those sites. 

Walmart Inc. refocused from building new stores to adding distribution, he said, noting that the company can convert some of its large Supercenters into warehouses for shipping.

Walmart responded to the e-commerce wave in early 2018 when it changed its legal name Wal-Mart Stores Inc. to Walmart Inc. to demonstrate what it said is its “growing emphasis on serving customers seamlessly however they want to shop: in stores, online, on their mobile device, or through pickup and delivery.”

“Retailing is not seeing a panic,” Ryals said, explaining that shoppers still do most of their buying in person rather than online. 

Retailers are responding by offering experiences, not just sales. 

The days of the stalwart department stores offering just merchandise must change, Ryals said.

He calls it “experiential” retailing and by example, said it’s as basic as Publix Super Markets Inc. giving cookies to children to keep them happy during the shopping trip.

“Retail is based on the experience,” Ryals said. 

The panelists said Northeast Florida will continue attracting retail stores and warehouses as the population grows. 

Read more about this panel discussion here.

Source | Jax Daily Record


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Jason Ryals

Executive Director

Jacksonville

Jason has over 16 years of experience in commercial real estate in Northeast Florida. He has completed over $400,000,000 in transactions in his career. His brokerage activities are focused on Tenant representation and expansion for National and Regional restaurant and retail chains, outparcel marketing and asset disposition.

Jason has extensive knowledge of the North Florida market, along with strong relationships with the dominant landlords and development companies in the region

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