| A Weekly PropTech Newsletter bringing you industry updates from across the real estate spectrum |
|
| We tend to focus on on the retail property owner in these newsletters, and while the takeaways are usually transferable to any type of property owner, we realize that there are some unique nuances for office and multifamily. This week, articles in CoStar and Propmodo highlight just that. CoStar called out that fast‑growing AI companies are driving strong demand for high‑quality office space on one hand, while on the other AI is leading to job cuts in other industries and less need for office space. Propmodo meanwhile points to how proper AI implementation is leading to immediate, quantifiable benefits, while owners who delay adoption face higher hidden operating costs and resident dissatisfaction. For owners of office, multifamily, and retail assets the practical takeaway is the same: you must consider AI in your business decision process moving forward, and prioritize targeted AI investments that improve tenant experience and operational efficiency. Which property type do you own or operate? Let us know over on LinkedIn.
Also this week, one delivery app expands their reach, while another takes on returns, and more discussion of Gen Z’s role in reshaping the mall and how to repurpose department store space. Check it all out below! |
|
| Why The AI Checkout Debate Misses The Real Shift In Retail [Forbes] In March, OpenAI shut down checkout inside ChatGPT and days later Amazon secured a preliminary injunction blocking Perplexity’s autonomous shopping agent from placing orders on its platform. These moments ignited a debate over who controls the transaction. It’s an important question, but not the most urgent one.
David’s Bridal brings wedding shopping to ChatGPT, Copilot [RetailDive] David’s Bridal is leaning into AI-driven shopping experiences and has joined Shopify’s Agentic Storefronts for ChatGPT and Microsoft Copilot. As part of the integration, ChatGPT users can browse David’s Bridal’s product assortment by silhouette.
Instacart to acquire retail tech platform in international expansion [GroceryDive] Instacart announced that it is acquiring retail tech platform Instaleap for an undisclosed amount. The deal will give Instacart a grocery-specific fulfillment solutions services platform and will also expand access to established retailer relationships outside of the United States, including with major grocers such as Cencosud in Latin America and Continente in Portugal. |
| Walmart’s AI Chief Earned More Than Its CEO in 2025 With a $44.1M Payday [WWD] The corner office at Walmart Inc. has long been one of the highest-paid gigs in retail — but the head honcho doesn’t always come out on top. And so it was last year, when outgoing chief executive officer Doug McMillon logged total compensation of $29.2 million.But the highest-paid executive listed was Daniel Danker, executive vice president, AI acceleration, product and design.
Dollar General to offer AI-enabled audio with targeted ads in select stores [Chain Store Age] Partnering with audio retail media platform Qsic, Dollar General will deploy an AI-enabled in-store audio network across approximately 6,000 stores in 48 states during the second quarter of 2026.
Uber Eats has a fix for pesky returns. You can just sit on the couch [CNBC] Uber announced it will pick up customer returns for retail purchases made on Uber Eats. The return pickup service works with items bought through the Uber Eats app from Best Buy, Dick’s Sporting Goods, Petco and more. In a recent survey, a third of the people who had made an online return said that printing labels and finding packaging were stressful. |
|
| Both lifeline and looming threat: How AI is changing the office market [CoStar] ChatGPT maker OpenAI, Anthropic, Nvidia, Databricks and other AI companies have collectively become the largest pursuers of space across the U.S. market, helping to lower record-high levels of office availability and leading a post-pandemic recovery. That is despite other major companies, such as tech giant Amazon, choosing to cut their expansive footprints.
For Gen Z Apparel Brands, The Mall Is Fashion-Forward [Forbes] The pandemic hollowed out most of America’s 900 or so shopping malls but for about a hundred located in upscale markets, business could hardly be better. Gen Z digital natives are discovering the fun of physical shopping, and brands are discovering the power of “phygital” marketing.
The Hidden Costs of Ignoring AI For Multifamily Property Maintenance [Propmodo] It’s safe to say that AI is no longer just a futuristic concept or a fleeting tech bubble. Beyond all the hype and debate, artificial intelligence has gone from a dream to a very real resource that is improving business at every level. Like the internet and the telephone, some technology isn’t just a nice-to-have; it’s indispensable. Property owners who don’t embrace AI risk losing money to inefficiencies and missing opportunities. |
| Empty Department Stores Are Housing Cleveland’s Booming Population [The Wall Street Journal] In downtown Cleveland, renters are moving back to the future as architectural icons from the city’s early-1900s golden age are reborn as modern apartments. While office-to-residential conversions gained national attention post-pandemic, Cleveland has spent about 50 years refining the practice.
For luxury retailers, value is a vibe [RetailDive] Value perception is more about vibes and less about the price for luxury retail CEOs. “We sell a dream,” Ralph Lauren President and CEO Patrice Louvet told an audience at the Semafor World Economy summit in Washington, D.C. “Often, people just simplify this whole value equation to what’s the price for the item, and in this industry, it’s so much more than that.”
Mall owners plot how to fill Saks Global’s abandoned space [CoStar] Just hours after Saks Global said it was closing a Neiman Marcus store at a Boston mall, the property’s landlord unveiled a plan to redevelop the soon-to-be-vacant space. Simon Property Group, obviously prepared for the tenant exit, said it would carve up the luxury chain’s roughly 100,000 square feet of space at Copley Place and fill it with a lineup of new luxury retailers and distinctive restaurants. |
|
|
