Ben Terry, Coreland Companies

Terry: “In my opinion, Southern California parking fields are a gold mine of opportunity for future development.”

TUSTIN, CA—The fundamentals of great retail brokerage continue to stand true, but sometimes the location is just not right for retail, and in these situations sometimes it’s best to evaluate a completely different course, Coreland Cos.’ VP of retail brokerage Ben Terry tells GlobeSt.com. We spoke with Terry about the state of leasing neighborhood shopping centers, taking advantage of unused parking fields and the importance of centers having an urban feel.

GlobeSt.com: What is your general overview of the state of leasing neighborhood shopping centers?

Terry: The fundamentals of great retail brokerage continue to stand true: it’s all about location, location, location. Class-A products remain the jewel of the market, but opportunities lie in B and C assets.

Sometimes the location is just not right for retail, and in these situations sometimes it’s best to evaluate a completely different course. This might mean recreating space into something other than retail, converting an unused parcel, or making new use of an unused parking field. In my opinion, Southern California parking fields are a gold mine of opportunity for future development.

GlobeSt.com: How can retail owners take better advantage of parking fields, especially with today’s changing parking needs?

Terry: The next decade, complete with driverless cars and drone delivery, is going to transform the way we look at parking fields that surround retail. Rather than having to accommodate for five per 1,000 square feet parking-stall ratios,…