Surging Consumer Confidence: What Retail Property Owners Need to Know
Marc Perlof • August 4, 2023
In an encouraging economic development, consumer sentiment in July 2023 soared to its highest level in nearly two years. As retail real estate investors and property owners, it's critical to comprehend the potential implications of these shifts on the market.
The University of Michigan’s index of consumer sentiment rose for the second consecutive month, escalating 13% over June to a preliminary July reading of 72.6, the highest since September 2021. All components of the index demonstrated significant improvement, pointing to an optimistic consumer outlook.
One could consider this sentiment surge as largely attributable to the deceleration of inflation and stabilization in labor markets. Interestingly, even as inflation expectations marginally rose, the consumer sentiment was not dented.
Yet, what does this mean for retail real estate?
Broadly, an uptick in consumer sentiment translates into increased spending potential, which may stimulate retail business performance. For retail property owners, higher consumer spending could result in enhanced property valuations and potentially higher rental incomes.
However, the commercial real estate landscape is intricate, influenced by a variety of economic indicators, not just consumer sentiment. With my years of expertise in retail real estate sales, I assist clients in discerning these complex signals and their impact on their properties.
As a retail property owner, you're in a unique position to leverage these positive economic indicators. However, effective navigation of the real estate landscape requires a robust understanding of these shifts. Reach out to me today. Let's discuss how you can use these market insights to optimize your investment strategy, achieve superior results, and realize your commercial real estate goals.
#RetailRealEstate #ConsumerSentiment #InvestmentStrategy #CommercialRealEstate #EconomicTrends #PropertyInvestment #MarcRetailGuy
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By Marc Perlof | @MarcRetailGuy CA #01489206 September 14, 2026 If you own retail real estate, here’s what just changed for you. Why CASp Reports Matter A Certified Access Specialist (CASp) report can help a California retail property owner understand accessibility issues before they become a bigger problem. It may identify concerns involving parking, paths of travel, entrances, doors, restrooms, signage, counters, slopes, and common areas. The value of a CASp report is clarity. It helps an owner understand what issues exist, what may need to be corrected, what may affect a lease or sale, and what requires legal guidance. But owners should be careful. A CASp report should not be ordered casually with no plan. If a report identifies issues and the owner does nothing, the owner may create a record of known problems without a strategy to address them. For retail property owners, the real value of a CASp report is not the report itself. It is reducing uncertainty before that uncertainty turns into buyer leverage, tenant demands, settlement pressure, or a lower sale price. What Is a CASp Report? A CASp inspection is performed by a trained accessibility professional who reviews a property for construction-related accessibility issues. For retail owners, a CASp report may review customer-facing areas such as parking, access aisles, ramps, walkways, entrances, doors, restrooms, counters, signage, slopes, and common areas. The exact scope depends on the property, the tenant use, and the purpose of the inspection. That matters because many owners do not know where the problems are until someone else points them out. That someone may be a plaintiff, attorney, tenant, buyer, lender, or inspector. Why Timing Matters Timing matters with CASp reports. In some situations, getting a CASp inspection before a claim may provide more options than waiting until after a lawsuit is filed. Owners should confirm the timing, legal effect, and any potential benefits with an Americans with Disabilities Act (ADA) attorney before relying on a CASp report. This is one reason retail owners should think about accessibility before there is pressure. Before a lawsuit, sale, refinance, major lease negotiation, tenant turnover, or remodel, an owner may have more control. The owner can speak with an attorney, decide whether a CASp inspection makes sense, evaluate the findings, budget for work, and create a plan. After a lawsuit or during escrow, the owner may have less control. Deadlines are tighter. Buyers may use the issue as leverage. Tenants may resist responsibility. Repairs may need to be priced quickly. That is when unknown risk becomes expensive. Can a CASp Report Create a Problem? Yes, if the owner handles it poorly. A CASp report can be helpful, but it can also create pressure if it identifies issues and the owner ignores them. The problem is not the report itself. The problem is having knowledge of potential issues with no plan to address them. That is why owners should speak with an ADA attorney and a qualified accessibility professional before ordering inspections, making written statements, or starting repairs. The right sequence matters. Get the right guidance. Define the purpose of the report. Review the findings. Create a realistic plan for what can be corrected, what may need more review, and what should be documented. How CASp Reports Can Affect Property Value CASp reports can affect value because they reduce uncertainty. Buyers do not only look at rent, Net Operating Income (NOI), lease term, cap rate, and tenant strength. They also look at risk. If a buyer sees unresolved ADA concerns with no report, no explanation, and no plan, the buyer may assume the worst. That can lead to a lower offer, a repair credit, a price reduction, a holdback, a longer due diligence period, or stronger seller protections. A CASp report can help shift the conversation from guessing to facts. That does not mean every buyer will ignore the issue. It does not mean the property is perfect. But it can help the owner show that the issue has been reviewed and that there is a plan. In real estate, fear often creates bigger discounts than facts. If a repair costs $20,000, the owner wants the discussion to be about $20,000, not a buyer guessing the issue could cost $100,000. That is how clarity can protect value. How CASp Reports Can Affect Leasing CASp reports can also affect leasing. A restaurant, medical tenant, dental tenant, franchise operator, or service tenant may care about accessibility before signing a lease or opening for business. If the owner understands the property’s accessibility issues before lease negotiations, the owner can better decide what work belongs to the landlord, what work belongs to the tenant, and whether the issue should affect rent, tenant improvement money, free rent, or delivery condition. Without that information, the owner may negotiate blind. That can cost money. What Retail Property Owners Should Do Retail owners should not treat CASp reports as a box to check. They should treat them as part of a risk and value strategy. Speak with an ADA attorney before ordering reports or making written statements. Use a qualified CASp professional who understands commercial properties and retail access issues. Define the purpose and scope of the report before the inspection begins. Create an action plan for items that may need correction and consider how the findings could affect a sale, refinance, lease negotiation, or tenant relationship. The goal is to avoid surprises. A surprise during escrow can become a price reduction. A surprise during a lease negotiation can become extra landlord work. A surprise after a lawsuit can become settlement pressure. Final Thought A CASp report is not magic. It does not eliminate every risk, replace legal advice, or automatically protect property value. But it can give a retail property owner something valuable: clarity. For retail property owners, the real value of a CASp report is not just knowing what is wrong. It is knowing what to do next. If you are considering a CASp report before a lease, refinance, or sale, I can help you think through how the findings may affect value, timing, and buyer leverage. In next week’s blog, “Readily Achievable ADA Repairs: What Retail Property Owners Should Understand,” we will discuss why some accessibility fixes may be more manageable than owners think, how year built can matter, and why current property condition matters more than assumptions. Based in Los Angeles. Serving Southern California. Active across California. Advising clients nationwide. #RetailRealEstate #CommercialRealEstate #CaliforniaRealEstate #RetailPropertyOwners #ADACompliance #CASp #PropertyValue #CommercialProperty #MarcRetailGuy
Morning Consult: Five Below, other retailers among 25 fastest-growing brands Five Below is one of the fastest-growing brands in the U.S. The tween and teen extreme value retailer is the No. 10 fastest-growing brand overall and the only retailer to crack the top 10 in Morning Consult’s “Fastest Growing Brands 2026” report. The study ranks the top 25 brands according to year-over-year purchasing intent. A re-launched, decades-old soda brand, Mr. Pibb, ranked No. 1. Five Below’s purchasing consideration increased 3.2 points this year, according to the report. (The retailer recently reported that its second-quarter sales r ose 22.9% to $1.26 billion...)
