I’m absolutely convinced that the future is bright for retailers who know their customers, how to serve them, and how to make good, efficient, informed decisions. The last five years have been tricky, and a time of uncertain change in the Retail Real Estate industry, across the U.S. but for sure here on the West Coast and in Southern California where I’ve been based for the last decade.

As a retail store rollout and transactions professional, I negotiated a lot of the reactive structural response to the uncertainty driven by the impact of digital sales on physical stores: shorter lease terms, kickout clauses, a focus on existing rent reductions, etc. As a developer and owner/ investor, my tenants and I have also benefited from acquisition opportunities on enviable real estate as a consequence of retail store closures and chain bankruptcies. Change is hard on some and beneficial for others.

I also participated in this recent retail evolution as an entrepreneur, creating with my partners a well received high end fashion boutique with locations in Calabasas and Miami. Among other lessons learned, the importance and impact of purchasing, inventory and supply chain decisions, and of the necessary data analytics underlying those decisions, is paramount.

I joined LCP because I’m a firm believer in physical retail, but equally importantly, I’m a firm believer in the importance of tech, network, IoT and data in achieving operational efficiency, both in the store and in support of store operations, supply chain and customer satisfaction. How all of that is brought together in the store experience is key to retail success. Good real estate process is necessary, but not sufficient. Enabling real time operational wisdom is the differentiator.