The Hampton Roads retail environment will continue evolving in 2018, particularly as the region may see its first major casualty of the grocery wars, a commercial real estate expert said.
“Retail apocalypse? I think not. It’s just a continued evolution of retail,” S.L. Nusbaum Realty vice president Michael Zarpas told attendees of Tuesday’s Hampton Roads Real Estate Market Review and Forecast presentation at Old Dominion University.
One of the top retail developments in 2017 was German discount grocer Lidl opening nine stores in the region, Zarpas said. That happened as discount rival Aldi expanded and Publix announced adding a store in the Williamsburg area, which also is attracting organic grocer Earth Fare, he said.
