LAS VEGAS — Another massive spate of store closures is coming in America, and both retail landlords and operators should expect to feel the strains of an over-retailed market until the next recession, according to one of the nation’s leading analysts of retail real estate. Garrick Brown, vice president of retail intelligence at Cushman & Wakefield’s Rancho Cordova, California, office, believes that an overall economic downturn will be a key catalyst in alleviating America’s excess retail space, as a recession will push retailers that are eking out a profit over the red line. The arrival of an economic slump that reduces consumers’ disposable incomes should trigger the next wave of store closures, said Brown. The victims are bound to be retailers that have yet to distinguish themselves from their competitors in terms of either product pricing or shopping experience. Brown spoke to REBusinessOnline at ICSC RECon in Las Vegas, the world’s largest retail trade show that was held on May 20-23. In addition to laying down some tough realities for American retail, Brown noted that the next couple years are likely to see more leveraged buyouts of struggling retailers as well as a rise in food hall concepts. Brown’s edited …
