Business
Phillips Edison & Company Reveals Retail Trends in Commercial Real Estate for 2025
CINCINNATI, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or “the Company”), one of the nation’s largest owners and
About this update from Phillips Edison & Company, Inc.
[{"type":"text","content":"CINCINNATI, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or “the Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today released its top anticipated shopping center retail trends for 2025 as part of ICSC New York. “Commercial real estate, particularly in the retail sector, has proven to be a highly resilient and adaptable industry, even as it navigates the ever-changing terrain of consumer demand and expectations,” said President Bob Myers. “We continue to see strong demand from growing retailers for space in grocery-anchored neighborhood shopping centers, pointing to the strength of grocery-anchored and necessity-based goods and services.” Mike Conway, Vice President of National Accounts and Retail Partnerships, and Brian Sheehan, Director of National Accounts, provided key trends that are set to impact retail real estate in 2025 including: Holistic health: The growing awareness of mental and physical health continues to influence retailers choosing to establish themselves in grocery-anchored neighborhood shopping centers. The expansion of brands like SweatHouz, a rejuvenating experience focused on cold plunging and infrared therapy, and Squeeze Massage, a modern massage concept created by the founders of Drybar offering a personalized and seamless massage experience that emphasizes mental relaxation and physical recovery, are thriving by addressing the growing consumer demand for comprehensive wellness solutions that integrate fitness, recovery and mental health. The expansion of brands like Pacific Dental Services, a company championing the science behind the mouth/body wellness connection and taking a more integrative approach to dental care, is also evident of a holistic approach to wellness.Specialty sweets and treats: Ironically, the increase in health and wellness goods and services coincides with the increase in specialty sweets and treats, like Dirty Dough Cookies, Swig Drinks and Crumbl Cookies. Even as health and wellness goods and services increase, so too do specialty sweets and treats. In fact, dessert shop openings were up 50% from May 2023 to April 2024 as consumers look for affordable indulgences. Specialty sweets and treats operators often use high-quality, premium ingredients, are highly cus...