News - May 31, 2016

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Driverless Cars and Driverless Spaces: The Future of Retail


A world of driverless, or autonomous, cars is much closer than we may think, and it will leave an indelible mark on retail real estate development, according to aGlobeStreet interview with Angelo Carusi, a principal at architecture and design firm Cooper Carry. According to numerous automobile industry experts, driverless cars will be in use and on the roads within the next 10 years.

At the outset, Carusi explains that the widespread use of driverless cars may result in more efficient uses of real property. He says that “land areas used for commercial real estate could change due to the reduced number of parking spaces needed,” and shopping centers will be able to purchase cheaper and smaller sites that only serve one purpose: to house driverless cars.