Plans to convert retail space into logistics centres struggle to take off

With hundreds of stores closing their doors to customers for good at a pace never seen before, the retail space available has reached uncharted levels. While this wave of retail stores closures started over a year ago, the unstoppable advance of coronavirus has proven the deadly kiss to commercial property worldwide. In the past few months, rising demand for urban real estate to support last-mile logistics gave some hope to struggling retailers’ landlords and commercial property owners. The idea was converting shopping centres, department stores, and even former flagship stores into distribution centres.