Is retail a risky long-term investment?

[Account Closed]

I was talking to a friend the other day, a professor at the Bauer College of business at the University of Houston and former real estate investor, and he believes that buying or investing in commercial properties that support retail businesses is a risky long-term investment. Brick and mortar face ever-increasing competition from online stores with lower margins and therefore cheaper prices. In short, people will always need a place to live and a place to eat (or pickup), but not necessarily a place to shop.

So, unless you’re a seasoned or institutional investor, with experience and money, you should steer clear of property specifically designed for retail. Granted this is a very general statement, I’d love to hear what the BP community thinks?