2020 Q2 Sacramento Retail Market Report

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Brick and mortar retail was already undergoing a dramatic transformation prior to the COVID-19 pandemic. Though the headlines of a retail apocalypse have been overblown and hyperbolic, e-commerce has certainly upended in-store sales across the country. Adding fuel to the fire, retailers and restaurants have struggled to stay in business as a result of shelter-in-place measures since mid-March. The ensuing economic disruption has accelerated market trends already underway and is forcing tenants and landlords to adapt to this new reality. According to Goldman Sachs, 2020’s announced and completed store closures so far (7,400) have already reached more than half of 2019’s total closures (12,370). It will likely only deteriorate from here. According to Coresight Research, as many as 25,000 stores could close permanently in 2020 as a result of COVID-19-related economic uncertainty. Bankruptcy filings by major retailers (and others like 24 Hour Fitness and Chuck E Cheese) have been regular over the last few months, including Pier 1 Imports, J Crew, Modell’s Sporting Goods, True Religion, Nieman Marcus, J.C. Penney, GNC, Lucky Brand, Sur la Table, Brooks Brothers, and Ascena Retail Group. Halfway through 2020, there have been 40 retail bankruptcies, more than both 2019 (32) and 2018 (33), according to S&P Global Market Intelligence.

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2020 Q2 Sacramento Retail Market Report

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Related Experts

Greg Thomas

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The key to my success and ultimately my client’s success is empathy. I care about my clients.  I listen to their needs, goals and challenges. Together, we break through barriers, some real and some imagined, to find space that will accelerate their success.

I started my career in Property Management with KCS Development Company, where I set my roots in the retail industry. As a property manager, I was exposed to work that required both business savvy and integrity. Having been in shopping center management and development, my career followed the “retail” path into brokerage. The most rewarding parts of my job has been watching my retail tenants succeed. One of my first clients, Gordito Burrito, remains in business in the same location after more than 25 years.  I have helped LifeTime Fitness, a national Health and Fitness company, develop two of their top-of-the-line facilities in the greater Sacramento area.  Whether a local, regional, or national Landlord or Tenant, my approach of speedy communication, responsiveness and empathy -  paired with 40 years of commercial real estate knowledge, help me make informed decisions about my client’s business. 

I am a native of Sacramento and believe in giving back to my community.  I have served for five years as an Advisor to the Board for the Assistance League of Sacramento; a nonprofit volunteer organization, which enhances lives in the Sacramento region through community-based programs. I am a multi-year Board Member and Type 2 Certified volunteer with Sacramento County Sheriff’s Department Search & Rescue.

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Tenant Representation:  Strong emphasis in both retailers and restaurants in the Sacramento and surrounding trade area.

Landlord Representation: Retail centers in Sacramento and the surrounding areas.

Investments: Participated in several recent restaurant, retail sale transactions in addition to representing owner-user retail clients in purchasing buildings for their retail expansion.

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My focus is on Retail Leasing and Sales throughout Northern California. I work directly with Tenant expanding their existing presence in the market as well as new concepts looking to rollout into the Northern California trade area. It's important to establish a strategic growth plan to identify and secure the right opportunities for each concept to ensure their success. I look to create long term partnerships with my Tenants. Their success is my success.

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I encourage you to contact me to see how I can help facilitate the growth of your business or to simply discuss real estate opportunities.

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