Dunhill Partners CEO Highlights Retail Real Estate Resilience and Evolution in Cornell Address

Bill Hutchinson, President and Chief Executive Officer of Dunhill Partners, Inc., shared strategic insights on retail commercial real estate during a keynote address to the Cornell Real Estate Council, drawing on four decades of experience and over $5 billion in transaction volume. His presentation, "Observations and Future Predictions for the State of Retail CRE," delivered at a Dallas luncheon venue owned through one of his partnerships, addressed both challenges and opportunities in the sector, countering narratives of decline with evidence of resilience.

Hutchinson challenged long-standing predictions about the demise of shopping centers, stating that forecasts from 25 years ago never materialized. He emphasized that physical retail remains the dominant channel for consumer spending, with e-commerce accounting for only about 15% of U.S. retail sales, while 85% continues through brick-and-mortar stores. This reinforces the enduring relevance of shopping centers as hubs of commerce and community, where people seek experiences that the internet cannot replicate.

The sector has demonstrated adaptability by backfilling vacancies left by legacy retailers like Bed Bath & Beyond and Blockbuster with new concepts aligned to evolving consumer preferences. Hutchinson highlighted the rise of service-based and experiential tenants—such as fitness clubs, medical providers, salons, and family-oriented attractions—as key drivers of occupancy stability. These uses are breathing new life into second-generation spaces and keeping fundamentals strong, reinforcing the shopping center's role as a community anchor.

During a dynamic Q&A session with industry leaders and students, Hutchinson discussed capital markets, redevelopment strategies, and tenant trends, offering lessons from navigating multiple market cycles. His message underscored that retail real estate remains one of the most durable and opportunity-rich sectors in commercial property, inspiring the next generation of professionals. For more information on Dunhill Partners, visit https://www.dunhillpartners.com.