What's the Future of Retail?

“The whole concept of what retail represents today, what people think of it, 20 or 30 years from now it will be completely different.” Joey Agree, the CEO of Agree Realty

, thinks we're living through one of the most dynamic shifts in the history of the business, with e-commerce business models melding with traditional brick-and-mortar experiences. Benzinga sat down with Agree to get his take on the shifting landscape of retail. The company went through a difficult period about two years ago when one of its biggest business partners -- Borders Books -- went bankrupt. Agree now pursues partnerships with businesses it views to be “e-commerce resistant” like pharmacies, gas stations and fast food. Still, Agree acknowledges that there's opportunity to be found, perhaps even with businesses that were once e-commerce only. Tech giant Apple

continues to dominate retail, running the most profitable stores per square foot. “Retailers like Apple, that have been able to be ahead of that curve and establish that experience, in-store versus online, static, mobile -- it doesn't matter, you get the same type of experience. That's why they've been so successful,” Agree said. “I think we'll see Google, Amazon -- obviously Microsoft is now opening some stores. Retailers, that were once only e-commerce, now pulling in the virtue of brick-and-mortar and combining it with online.” Microsoft

began rolling out its own retail stores in 2012 ahead of the release of its Surface tablet. There have been conflicting reports that Google

might do the same. Some have suggested that Amazon could eventually enter the brick-and-mortar game, perhaps even by purchasing a troubled brand like Best Buy

or RadioShack

. But with new companies entering the retail space, will this lead to a flurry of new development? Probably not. In terms of tech companies demand for retail space, Agree believes “it will never be to the degree we see today.” “[Tech companies] will enter the markets selectively, they will be highly picky about the stores they do open,” Agree predicted.