ICSC’s Post

In the last couple of years, retail property owners have encountered a notable shift in their perspective regarding tenant bankruptcies, when those stores are well located and the existing rent is below market. Contrary to their previous concerns of spaces remaining vacant, they are now starting to view these bankruptcies as an opportunity to adjust rental rates to reflect current market conditions—a practice known as mark-to-market. This shift in mindset is a direct result of a significant lack of new retail development since 2010, coupled with a nationwide real estate market that shows limited vacancy. Consequently, when vacancies arise due to tenant bankruptcies in prime locations, financially robust tenants are eagerly seizing the chance to expand their presence in the retail sector.

Vegas retail center sells in $50 mil deal. Out-of-state investor pays $437/sf for 115k sf Mountain’s Edge Marketplace. The property, which was built in 2016, is 98% leased to 40 national and local retailers. Roy Fritz, CCIM and Preston Fetrow of CBRE’s National Retail Investment Partners-West represented the seller, Remington Nevada, a private investment firm based in Las Vegas, focused on developing Class A retail shopping centers in the Southwest. https://lnkd.in/gb5NK_cz

Thinking about investing in Commercial Real Estate, but not sure which sector? Retail may just be your answer, especially if you are in Texas! 🏢 Check out this insightful article about Houston's retail success and the shiny objects attracting consumers: [Link to Article] #CommercialRealEstate #InvestmentOpportunity #Texas #RetailSector

Good article from Connect CRE discussing the dynamics driving the positive outlook for -#retail #commercial real estate. Retail is emerging as the most profitable investment oppportunity, specifically small, open-air, grocery-anchored neighborhood centers and strips. We’re seeing the same trend in Miami-Dade, with retail CRE dollar volume acquisitions up 63% ( though number is down) and small stores making up 80% of sales. See the Miami-Dade report in the Comments.

With Raleigh’s retail availability rate at just 3.1%, businesses are facing fierce competition for prime locations. As Party City prepares to auction five leases in the Triangle area, this marks a rare chance for tenants to secure premium retail space in a historically tight market. Stephanie Sparrow, CCIM, our Executive Vice President at GFD Management, shared insightful perspectives on this trend: “In the current environment, it’s often difficult for retail tenants to find quality space here. There will likely be significant interest in these leases from a variety of companies.” At GFD, we understand the importance of strategic positioning in competitive markets. These opportunities not only benefit tenants but also allow landlords to take control of lease terms to attract the right businesses. What are your thoughts on the retail space market in Raleigh-Durham?

Let's go #tampabay! "A CBRE report noted that the average #retail #lease term has risen to eight years. That’s for U.S. #retailleases of at least 1,000 square feet signed during the first three quarters of 2024, and it’s up from 7.5 years for the same span last year. The report said changing #consumer preferences have prompted many #retailers to sign long-term #leases at #neighborhood, community, strip and power centers. #Tampa, Florida, led major markets in lease-term growth, followed by Nashville, Tennessee, and San Antonio." #larrytheleasinglawyer

Broad Reaching Strategies for Maximizing Value in Retail Properties No matter the economic climate, the formula for creating value in properties will always be a retail property owner’s best friend. That’s why Broad Reach Retail Partners, LLC uses a multi-faceted approach that includes data-driven key performance indicators (KPIs) to drive their plans of action, strategic redevelopment and ongoing budget updates that optimize net operating income (NOI). “Through focused management, leasing and discipline, we create value, and we are able to return those dividends to our partners, properties and people,” says COO Mike Castellitto. “We have seen time and time again that those who are able to make changes, explore new ideas, methods and solutions can thrive.” https://lnkd.in/dhkMtq2a Sponsored by Broad Reach Retail Partners, LLC #cre #commercialrealestate #retail #shoppingcenter

One real estate firm sees “green shoots” ahead for investment sales activity, while retailers are leaning on artificial intelligence to streamline. And despite headwinds that include higher costs and tight retail vacancies, retailers continue to push forward with new store openings. Read on here: https://bit.ly/4cmWKXM #ICSC #Marketplaces #Retail #RealEstate

Our new leasing activity, combined with low move-outs, has led to another quarter of record overall, anchor, and small shop occupancy rates at 95.6%, 97.7%, and 91.1%, respectively. Best-in-class tenants have driven these outstanding results, including three new grocer leases. Notably, Trader Joe's is backfilling a former Bed Bath & Beyond box in suburban Denver, boosting our percentage of ABR from grocery-anchored centers to 81%. We're welcoming new locations with ALDI USA, Burlington Stores, Inc., Boot Barn, Skechers, and Ulta Beauty while also capitalizing on the high demand from outparcel tenants like Chase Bank, Fifth Third Bank, Shake Shack, and CAVA. #brxtransform

"MD Retail Center Purchased by Aggregate Real Estate Investors for $28M" Read the full article below..