NEW YORK (TheStreet) -- Real estate and retailers are becoming more dependent on each other as consumers insist on same-day delivery of goods.

The iShares US Real Estate ETF(IYR) - Get Report popped 2% when the Federal Reserveleft interest rates unchanged last week. Fred Schmidt, president and COO of Coldwell Banker Commercial Affiliates, said the relief rally was to be expected considering the interest rate sensitivity of the REIT index and he remains bullish on the sector.

"I think the interest rates are somewhat baked into the numbers and so for a long-term investor, no matter where you get in, it's a good play overall," said Schmidt, adding that rents are going up due to the improving economy. Schmidt said high- and low-end retailers have been performing well, yet the mid-level players have been challenged.

Schmidt also said same-day online delivery and mobile wallets have become a cornerstone in the modern shopping experience, and commercial real estate is quickly adapting to meet the warehousing and retail needs expected from consumers. 

A Coldwell Banker survey found that 50% of U.S. adults are more likely to make a purchase online if there is a same-day delivery option, and 40% expect this option to be available when shopping online. The survey revealed that the option of same day delivery is more likely to drive the purchasing decisions of Millennials and parents with children under 18 living in their household than other generations and segments of the population.

The trend towards same-day delivery is already shifting suppliers' inventory needs, according to Schmidt. As same-day delivery pilot programs begin to surface in urban areas, retailers are quickly acquiring warehouse space immediately outside large urban areas to meet the burgeoning demand. As these same-day delivery programs become national, Schmidt said the demand for these warehouses will likely grow in both urban and suburban areas.

"It's really what we call the 'omnichannel' approach," said Schmidt. "It's a battle of the supply chains."

Meanwhile, the Coldwell Banker survey showed that millennials and parents of young children are more open to embracing mobile wallets like Apple Pay, Google Wallet and Visa PayWave.  According to the findings, 33% of millennials agree that making purchases with a mobile wallet is important to them, compared to only 21% of the total survey population. Similarly, parents are nearly twice as likely to feel that making purchases with a mobile wallet is important.

"The reconfiguration of the space will occur," said Schmidt. "Of course there are security concerns and threats overall, but that's evolving."