market update 2018 - carw · milwaukee retail market 2019 predictions – • vacancy rates will...
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MARKET UPDATE 2018PRESENTED BY:
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Milwaukee Retail Market
Brian J.
Vanevenhoven, CRX
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▪ Retail Statistics by Submarket
▪ Retail Investments
▪ Who is Expanding / Who is Contracting
▪ The Traditional Mall
▪ Grocery Future
▪ Predictions
Milwaukee Retail Market
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Retail Market
• Total Universe: 41.7 MM SF
• Occupied Space: 38.5 MM SF
• Vacant Space: 3.2 MM SF
• Vacancy Rate: 7.7%
8.6%8.4%
7.2%7.4%
7.7%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
2014 2015 2016 2017 2018
Vacancy Trend
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North Retail Market
Inventory Available SF Vacant SF Rate
9,035,807 827,371 460,480 5.1%
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West Retail Market
Inventory Available SF Vacant SF Rate
12,493,992 1,135,175 756,437 6.1%
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Central Retail Market
Inventory Available SF Vacant SF Rate
8,124,860 1,028,187 874,891 10.8%
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South Retail Market
Inventory Available SF Vacant SF Rate
12,081,335 1,452,415 1,122,913 9.3%
South 84thSouthridgeThe RockS 27th St TargetDrexel SquareIkeaImpact of Foxconn/Racine
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Retail Investment Market
Source: Newmark Research
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Retail Investment Market
$415.5 Million
20 Grocery-Anchored Shopping Centers
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Retail Investment Market
$33.5
Million
$24.3
Million
$17.9
Million
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Retail Investment Market
$12
Million
$9.6
Million
$5.5
Million
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Retail Investment Market
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Milwaukee Big Box Market
Closings Expanding
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Regional MallsMayfair Mall
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Regional MallsMayfair Mall
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Regional MallsBrookfield Square
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Regional MallsBrookfield Square
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Regional MallsSouthridge
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Regional MallsSouthridge
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Regional MallsBayshore
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Regional MallsBayshore
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Regional Malls
Source: Newmark Research
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Milwaukee Grocery Market
Closings Expanding
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Retail Heavyweights
Net Worth:
$125.8 Billion
(Nov. 2018)
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Retail Heavyweights
Total
Net Worth:
$174.9 Billion
(May 2018)
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Retail Heavyweights
Annual Sales $193 Billion $500 Billion
2017 Online Grocery Sales $2 Billion $1.78 Billion
Free Cash Flow $5.36 Billion $18.29 Billion
Cash $24.96 Billion $7.89 Billion
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Milwaukee Retail Market
2018 Predictions – Scott Satula
• Limited Grocer Closures False
• Food & Beverage: Flat True
• Increased Deliveries False
• Increased Integration of “Bricks” and “Clicks” True
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Milwaukee Retail Market
2019 Predictions –
• Vacancy rates will rise, but only slightly.
• Brick and Mortar retail will continue to merge with
online retail.
• Amazon is far from done and could make another big
purchase of another brick and mortar store in 2019.
• The traditional mall is changing, but is far from dead.
• Online grocery sales will continue to increase, but total
sales will be far outpaced in Brick and Mortar stores.
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Milwaukee Retail Market
Brian J.
Vanevenhoven, CRX