We are going to need less commercial real estate in the future, at least on a per-unit-of-population basis. Advances in communications technology are causing profound and sometimes unanticipated changes in our lives.
The coming change is most obvious in retail markets. Americans are increasingly shopping online. However, we’ve really just started to scratch the surface. According to the U.S. Census Bureau’s 2009 E-Stats report issued in May, 2011, E-commerce only accounted for 3.99 percent of U.S. retail sales in 2009. read more »