Matthew Spratley的动态

?Decron Properties Corp. , a Los Angeles-based real estate firm, recently purchased the #MiraMesa Market West #shoppingcenter in #SanDiego from Stockbridge Capital Group for $99 million. The off-market transaction included the assumption of the seller's $54 million loan with New York Life Insurance Company at a 3.5% fixed interest rate. Key points: 1. The 238,747-square-foot shopping center, built in 2000, is located at 10604 Westview Parkway and is fully leased. 2. Major tenants include The Home Depot, Smart & Final, CVS Pharmacy, Dave's Hot Chicken, Rubio's Baja Grill who just entered Chapter 11 Bk, Starbucks, Jersey Mike's Subs, Verizon Wireless, PNC Bank, and a soon-to-be-built Lazy Dog Restaurant & Bar . 3. Despite the property being zoned for mixed-use and allowing high-density housing, Decron plans to keep the center as a retail property. 4. This acquisition marks Decron's return to the retail sector after focusing primarily on residential properties since the Great Recession. 5. San Diego's retail sector is an attractive investment due to tight availability, with a current availability rate of 4.8% across the county. 6. Stockbridge Capital Group purchased the property in 2016 for $109.4 million as part of a larger transaction and is retaining the eastern portion of the center, where they are considering a mixed-use redevelopment.

One of Bonfire's best investments was in a shopping center outside of Chicago. At the time we invested, some people said, "why would you invest in a shopping center, retail is dead." Well, leasing activity in U.S. shopping centers is at its highest pace in two decades, driven by strong post-pandemic demand: -Record Demand:?Vacancy rates have hit all-time lows, with 98% of shopping center space leasing within 9 months of availability. -Rapid Leasing:?Up to 80% of retail spaces lease within 6 months, and nearly half find tenants in just 3 months. -Rising Rents:?Tenants are securing spaces faster and agreeing to larger rent increases—some by as much as 50%, as seen with Aldi’s recent lease in a former Big Lots location. -Big-Box Opportunities:?Closures of stores like Rite Aid and Bed Bath & Beyond are giving landlords a chance to attract more desirable tenants. Challenges Ahead:?While demand remains strong, major landlords like Simon Property Group caution about potential challenges, noting that fluctuating consumer confidence could impact future retail spending. Still, well located retail that acts as a destination spot with great amenities will continue to drive foot traffic (and good rents). Onwards ??

Seeking Vacant Family Dollar Stores in PA!!! We have numerous clients that are looking for these soon to be empty stores! Landlords listen up—— News of Dollar Tree/ Family Dollar closing 600 stores has been a big topic in the media the last few weeks. While no store closure is positive news, it’s not quite the doom and gloom some paint it to be. It’s a very large company (20K+ stores) repositioning and cutting fat to gear itself for the future. It’s simply a fact of life as with any retailer…. here it’s just proportionally higher for them due to their massive store count. The positive news is that with one retailer closing, it offers great opportunity for others to step into their space especially in areas of tough barrier to entry. Unlike the recent challenges many of the Rite Aid store owners have faced with replacement rents being dramatically lower than what was being paid, the dollar concept stores often are at or below market rents. This allows for a much easier rent backfill and in some cases even a rent increase. Please reach out if your own or represent any upcoming closed Family Dollar stores. Adam Hagerman Cale Bruso, MBA Bradley Rohrbaugh Chad Stine Bennett Williams Commercial Retail Brokers Network (RBN) #cre #commercialrealestate #familydollar #storeclosing

???Florida's Retail Real Estate Market Heats Up!??? Florida's retail leasing and investor markets are scorching hot, driven by low vacancy rates and strong investor interest. With no significant new construction due to high costs and lending challenges, developers are turning to acquisitions to capture market opportunities. Here are some highlights: Dundas Real Estate Investments acquired Lee Vista Promenade in Orlando. EDENS expanded its Florida portfolio with the purchase of Shadowood Square in Boca Raton. Publix Super Markets bought Coral Springs' Ramblewood Square, enhancing its anchored position. Big developments are on the horizon: Orlando's?Walt Disney World may see a new $17 billion park. Orlando Magic plans the Westcourt mixed-use hub. Creative Village?is transforming downtown Orlando into an educational and business hub. Exciting expansions from major brands: ALDI USA is converting Winn-Dixie locations across Florida. Buc-ee's, Ltd. will open a massive 74,000 sq ft store in Ocala. Raising Cane's Chicken Fingers continues its growth in the Tampa Bay area. Florida's entertainment and dining scene is also buzzing with new restaurants and flagship openings from?Maman,??mo by J?nt, and others in Miami and Orlando. For a full dive into these developments and more, check out the detailed report?here. #RetailRealEstate #FloridaMarket #ICSC

Good morning, Late in the morning, my phone rang. It was Robert Leveen, my source in the commercial real estate world of the greater Los Angeles area. We bounced around a few ideas, and as always, the conversation turned to commercial real estate. This time, we spoke about shopping plazas in California and in general. Here are some insights from our conversation, as well as recent articles and stats. First, some basics. Most shopping plazas have what is known as an anchor tenant. This can be Walgreens, Ralphs, Walmart, or any other main retail store or restaurant. The anchor tenant generates traffic for the smaller tenants, such as restaurants, dry cleaners, liquor stores, and bakeries. The anchor tenant also provides the lion's share of rental income for the plaza. What happens to the shopping plaza when the anchor tenant leaves? Aside from reducing the rental income by 20-50%, it takes away the traffic from the rest of the tenants in the plaza. Most of them will not survive for long. Replacing the anchor tenant takes time, and by the time the new anchor tenant moves in, the rest of the plaza's occupants might be out of business. So far, in the first four months of 2024, 2,600 stores have announced closures. Foot Locker, Macy’s, Dollar Tree, CVS, Walgreens, and the now-bankrupt 99 Cent stores are closing locations across the US. Restaurants such as Boston Market and Applebee’s are closing hundreds of locations too. The above figure, on an annualized basis, is 40% higher compared to 2023 (Source: https://lnkd.in/gz_n7mTR). If I were a betting man, I would probably not bet against the rising trend of store and restaurant closures. What does this mean for the economy? More small businesses, which are the main source of employment, will have to shut their doors, causing unemployment to rise. By the way, last Friday, we received one of the most reliable recessionary indicators: once the unemployment rate goes up by 0.5% above the lowest rate, we are in the recession.(SOurce:https://lnkd.in/gyRNxxmp.) Will this be the case this time? We shall see… Due to compliance regulations, I cannot provide personalized financial advice or market analysis on LinkedIn. If you or someone you know needs help putting their financial affairs in order, you can reach out to me on LinkedIn, via email at [email protected], or by calling my direct line at (424) 295-9015. Have a great day, and try not to get run over by the bulls or the bears on this glorious FOMC decision day!

4,050 Closed/Vacant Anchors–213 Million sqft of space – Avg size 52k sqft. Some stats to consider while reading Bisnow's recent article pointing out the "Opportunities" of large-format #retail closures.? (the figures above are from the our DMM major shopping center dataset) In addition to the hundreds of millions of square feet available for leasing, redeveloping or dividing up, there's the acres and acres of parking lot space no longer controlled ( in some cases)by the former department store or other big box tenant. Prime "Opportunities" for outlot buildings for all those expanding QSRs, banks, mobile stores along with other uses. Fill me in on who else might be interested in that valuable real estate. ? More on how to access the list of all those vacant big boxes here: https://lnkd.in/eCyWch_v https://lnkd.in/ebyQ_gAQ

Kimco Realty Corporation, one of the country’s largest REITS and North America’s largest public owner of grocery-anchored shopping centers, completed its announced $2 billion purchase of RPT Realty, adding 56 open-air shopping centers with 13.3 million square feet of space to its burgeoning real estate portfolio, reports the CoStar Group. The move is part of Kimco's strategy to enhance its retail portfolio and capitalize on the demand for open-air, grocery-anchored spaces, which tend to draw heavy foot traffic. Grocery-anchored retail has been one of commercial real estate’s hottest sectors the last few years: https://bit.ly/3UFTTnE #commercialrealestate #commercialrealestateinvesting #reit #reits #grocery #shoppingcentres #openair #grocerystores #retail #retailrealestate #investing #retailspace

In our latest alert, Travis Jeffries discusses the challenges and opportunities in reletting space vacated by major tenants. With major brick-and-mortar retailers like 99 Cents Only, Bed Bath & Beyond, and Party City all filing for bankruptcy since the beginning of 2023, and potentially more on the horizon, here are some important things to consider. #retail #cre #brickandmortar

Featured Listing 3315 Williams Boulevard SW, Unit 4, Cedar Rapids $9.95/ Sq Ft Great retail location facing Williams Blvd. Traffic count exceeds 12,500 cars per day. UPS Store, Edward Jones, Happy Joe's Pizza, Taco Bell, Dupaco Credit Union and SS Administration are neighbors. Landlord would participate with build-out. Unit 5 next door could be added to this space to create 3,012 SF. Tenants may set operating hours. Listing agents are partial owners. Up to 3 months free base rent offered for a five-year lease with qualified tenant. Plentiful off-street parking. 2023 CAM is $5.35/SF. Rate is first-year incentive. Second year would be $11.50; third year to be $12.50; fourth and fifth year to be $13.50/SF NNN. Zoning was C-3A in former zoning code. Feature sheet attached. Listed by Doug Laird & Scott Olson #SkogmanCommercial #commercialrealestate https://lnkd.in/grXwSvDF

LeasingMinute In the last few months of traveling outside of NYC, I have seen lots of construction activity in shopping centers that were previously written off. Obviously that is a good thing. But if rents are high, interest rates are high and construction costs are high, how are the retailers making the numbers pencil out? I think at least 2 things are play: 1) the cost of inaction is way worse than the cost of doing something. We all know that in the last 5-10 years, owners haven’t been rushing to build shopping centers. There isn’t much product. So, when opportunities arise (I’m looking at you big box bankrupt retailer!) if a retailer doesn’t expand to meet its customer where they are or improve the look/feel of its store, the customers will move on. 2) retailers are likely putting more of their own capital into deals and they are doing so at competitive rates. #retailrealestate #development