As the vaccine rollout takes effect, the U.S. economy is set to benefit from several tailwinds through the second half of the year, including the prospect of a full reopening, a boost to spending from accumulated savings and further fiscal stimulus, according to PGIM Real Estate.
“With the right approach to asset management, necessity-driven retail sites, such as neighborhood centers, can be adapted to benefit from online spending by acting as low-cost fulfillment centers,” said Kelly Whitman, executive director, Americas investment research at PGIM Real Estate.
Real estate tenant demand has turned a corner, supported by improving economic conditions and a strengthening labor market.
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