2024 Year in Review

In Chinese Zodiac, 2024 marked the Year of the Dragon – and like its mythical namesake, it proved to be a year of powerful transformations and unexpected turns for me. As I reflect on 2024 for me, I'm struck by the fascinating contrasts that defined our industry's landscape.

Anchor Retail experienced an exceptional year of growth in several key areas:

• Record-breaking tenant expansion and market entries
• Swift absorption of available vacancies
• Doubled performance in land sales and investment transactions
• One-third increase in deal revenue
• Successful completion of long-term, complex negotiations

2024 saw the exciting launch and expansion of several innovative retail concepts:

• Dollar General 's fresh venture: pOpshelf
• Cracker Barrel 's new dining experience: Maple Street Cafe
• Academy Sports + Outdoors ' organic market penetration in Ohio
• Strategic relocations by Panera Bread across multiple states, prioritizing drive-thru capabilities to enhance customer experience
• Express Oil Change & Tire Engineers closing on its first corporate store in southern Ohio with more to come.
• Small Sliders entering northern and southern Ohio
• Relocations with Kay Jewelers throughout Ohio

Our long-term partners showed impressive momentum:

• Skechers
• Meijer
• Bath & Body Works
• AutoZone
• BIBIBOP Asian Grill
• Heartland Dental

Each demonstrated robust growth and strategic market positioning throughout the year.

However, 2024 wasn't without its hurdles. We witnessed what I'd call a "Silent Recession" in commercial real estate and construction, marked by:

• The most significant shortage of build-to-suit projects in my 25-year career (outside of the Great Recession)
• Unprecedented challenges in commission collections
• Extended timelines for deal completion, particularly for larger projects
• Thankfully, the stock market remained resilient, providing some stability in an otherwise turbulent landscape

As we transition into 2025, the Year of the Snake brings promising symbolism of growth and transformation. Our pipeline is robust, and we're excited about several upcoming announcements that will shape the retail landscape in our markets.

I want to express my heartfelt thanks to all our clients and colleagues who made this year memorable. From enlightening site tours to engaging trade shows, your partnership and trust have been invaluable.