When
you want to talk retail real estate, there’s no better person to turn to than
Lisa Streidl. A senior vice president in the Dallas office of The Zall Company
and a vice president of branding and
marketing at Pacific Realty Services, Streidl has decades of experience as a
broker and development consultant. For today’s Four on Friday, we spoke with
Lisa about the health of the sector, the viability of mixed-use developments in
the suburbs and the joy she experiences working in commercial real estate.
HS: You
currently have positions with The Zall Company and Pacific Realty Services.
Give us an overview of your responsibilities with those firms.
I joined the Zall Company as a senior vice
president. I oversee tenant representation, and I work with our principal on
select, ground-up developments. My focus continues to be on emerging brands and
better to high-end retail, and my platform is national. On the tenant side of
the business, I facilitate national expansions for my clients. When working with
developers, I consult on mixed-use development.
I work with Stuart Zall, founder of The Zall
Company, under the Pacific Realty Services umbrella, where we have been
consulting on shopping center development in China. My primary focus has been
working on behalf of the developer in China to direct its real estate,
architectural and marketing partners in creating a Western experience for the
consumer.
HS:
One of your tenants, Kendra Scott, recently signed a lease at North American
Properties’ Avalon mixed-use development in Alpharetta. We’ve heard a lot about
the growing presence of mixed-use facilities in infill areas, but do you see
such properties becoming prevalent in suburban markets as well?
From my perspective, mixed-use development has
always had its roots in the suburbs, having been created as an alternative to
the enclosed mall. Although it has gained more popularity as infill over the
last decade, mixed-use development will always have a place in the suburbs. Many
shoppers, especially those transplanted from cities, prefer an environment that
feels more “organic,” features easy parking and has a more edited selection of
retail and restaurants.
These centers also provide a sense of community in
car-driven, sometimes homogeneous areas by providing community gathering spaces,
with programming such as yoga in the park, farmers markets or outdoor
movies.
HS: Broadly
speaking, how strongly do you think the retail real estate sector has recovered
from the Great Recession?
I remain cautiously optimistic. The consumer will
to continue to show up as long as we give them a reason to, assuming employment
doesn’t drop and interest rates remain reasonable. Until the recovery gets
stronger and demonstrates more staying power, we will be on our toes. Shopping centers
will need to engage the customer by keeping a fresh tenant mix that includes
compelling, non-retail draws. Retailers will need to continue to evolve their
product offerings while remaining true to their customers. That’s a sometimes tricky
line to walk.
HS: At
the end of the day, what are the things about working in the commercial real
estate industry that you most enjoy?
Simply put, I love retail. It’s so exciting to
discover emerging brands, identify trends in the marketplace, collaborate
creatively on building a better mousetrap and to partner in a client’s success.