Shopping Centers Are on Their Way to Become Last Mile Warehouses

This was stated by Victor Lachica, CEO of Cushman & Wakefield, who highlighted that the real estate sector is going through a phase of reinvention, particularly in the office and retail spaces. Shopping centers are undergoing an interesting redesign process, despite being one of the sectors most affected by the pandemic. 

They are currently in the process of adapting to the new dynamics. In the United States, for example, there is a trend of transforming retail spaces into health, personal care, and entertainment centers, as mentioned by the NEXIMO specialist. 

Even in Mexico, it is possible that shopping center owners will adapt part of their spaces to serve as warehouses and become part of the last-mile logistics chain. "Shopping center owners have faced many challenges, as many tenants had difficulties paying rent due to the inability to open their stores. They have had to seek support schemes, and now we are seeing them adapt rapidly," explained the expert. 

 "In some cases, we may see shopping centers where part of their spaces are converted into warehouses, distribution centers for product delivery, known as the last mile, to meet the increasing online shopping demand." On the other hand, Alejandro Delgado, Country Manager Mexito at SiiLA, emphasized in the program 'Inversiones Inmobiliarias' (Real Estate Investments) that shopping centers are experiencing significant recovery. December was particularly positive, as there was an increase in foot traffic. "We are seeing a solid recovery in shopping centers. This type of asset is continuously recovering," he affirmed.