With food-and-beverage outlets now among the fastest-growing categories in retail centers, a CBRE Group, Inc., report identifies four formats poised for significant expansion: food trucks, food halls, celebrity-chef restaurants and "grocerants."
American retailers, which already operate in more foreign countries on average than their Asian and European peers, have widened the gap with a more aggressive international expansion pace, according to CBRE Group's 9th Annual "How Global is the Business of Retail?" report.
Voracious global demand for e-commerce fulfillment centers and distribution centers fueled a 2.8 percent year-over-year increase in prime logistics rents globally, led by double-digit percentage gains in U.S. coastal markets, according to CBRE Group Inc.'s inaugural Global Prime Logistics Rents report. Six of the top 10 markets with the fastest-growing prime logistics rents globally were in the U.S., led by Oakland, Calif., with a nearly 30 percent gain.
The balance of seaborne-cargo delivery in the U.S. shifted further east in the last year, resulting in East Coast seaports making gains against their West Coast counterparts in CBRE Group Inc.'s second-annual North American Seaports and Logistics Index.
Asia dominated global shopping-center development last year, claiming nine of the 10 busiest global markets for retail construction, according to a report released by CBRE Group, Inc. Overall, global retail space under development increased last year to 451 million square feet from 420 million in 2014.
Availability of industrial space in the U.S. declined in the first quarter of 2016 to the lowest level since 2001 and rents remain on an upward trajectory, though new construction is poised to limit both trends over the next two years, according to CBRE Group, Inc.
Retailers are expanding their networks of stores internationally this year despite the presumed headwind of online shopping, with a greater percentage eyeing growth in the Americas than last year, according to a survey of more than 150 major, international brands released by CBRE Group, Inc.
The major expansion of internet retailing is expected to be the biggest driver of activity in the European logistics market - and the need for distribution space - in the coming three years, according to a survey conducted by global real estate advisor CBRE.