Changing retail construction
Mirroring the overall construction market, private sector retail construction has generally increased over the last few years. Los Angeles has one of the most active retail real estate markets in the United States. However, this market has been affected during the last years by the rise of e-commerce, and the COVID-19 pandemic. Changing trends are also moving consumers away from the classic shopping malls and instead are shifting towards mixed-use projects to animate retail centers. Renovations are now more common than new construction in the retail sector. The region with the highest volume of shopping center real estate under construction in the U.S. was the south.