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GLOBEST.COM: SoCal Retail Market Remains Healthy, Competitive

By Natalie Dolce

As featured on GlobeSt.com

SAN DIEGO–The Southern California retail market remains healthy, but extremely competitive. That is according to Patrick Galentine, Principal of Kesington Real Estate Group and EVP of Coreland Cos., who recently spoke with GlobeSt.com on the market in advance of the upcoming ICSC Western Division deal making conference here.

According to Galentine, “From a management and leasing perspective, (our teams) are keeping a close eye on the grocery sector and large-format retailers. The success of new store openings by Aldi, Grocery Outlet and Smart-and-Final, for example, are critical in maintaining a healthy absorption of space. Landlords remain cautious when it comes to the performance of any traditional retailer as ‘right-sizing’ efforts continue.”

He also explains that creating value and providing personal experiences through brick-and-mortar retail is still the top priority. “How can we enhance the experience for customers and create value for our clients is an ongoing discussion within our own management and leasing portfolios.”

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