As of late May 2023, the Gun Violence Archive has counted more than 260 mass shootings in the United States this year. We have not even reached 200 days on the calendar this year. Believe it or not, that affects the way we go about our daily lives and where we decide to spend our time. In Atlanta on May 3, there was a shooting at a medical office that killed one person and wounded four. On the front page of the May 6 edition of the Atlanta Journal-Constitution, the headline for the column by an opinion writer states, “Frightening reality: Now medical offices aren’t safe.”
As a disclaimer, I served in the United States Army as an officer in the early 1970s.
Twenty-nine years ago, I was on the wrong end of a drive-by shooting. I also have a very narrow view of the 2nd Amendment to the United States Constitution. I feel that guns should be licensed by the state and a potential gun owner should undergo a background check and firearms training before being able to purchase a weapon. Having served in the military and fired an M-16 assault rifle, I can’t think of any good reason a civilian ought to own an assault rifle.
So how does this talk about guns tie into real estate? Well, I recently had a conversation with a friend about shopping for clothing items. When I suggested that he go to a regional mall to purchase an item, he stated that he was afraid to go to the mall because of the threat of gun violence.
His comment made me wonder if “guns everywhere” laws that Georgia and other states have adopted will have the same negative effect that online shopping has had on bricks and mortar retail real estate. Will fear of being on a property and the ease of shopping online keep people home? I imagine that most folks will weigh the risks and continue to shop at the mall or neighborhood shopping center. I also imagine that most retailers will, in the not-too-distant future, have metal detectors at store entrances to provide a level of comfort and security for their customers. I question whether small retailers will, because of already thin profit margins, be able to afford enhanced security measures in their shops.
My guess is that as gun violence continues to increase it will have some negative impact on retail real estate. It is a shame that the freedom to own a gun will impact capitalism by curtailing freedom of movement for many citizens and the right to enjoy shopping – or frequenting movie theaters, stadiums, sports venues and more – without fearing for their safety. Will establishments that rely on foot traffic and in-person patronage survive in this climate? Time will tell.
(Note: As I was writing this blog on May 6, 2023, a shooter with an AR-15 killed eight people and wounded seven at a suburban Dallas outlet mall.)