Early this month, an 87-year-old New York City retail landlord told me that,“Buying into the Dollar is just investing into a belief system.” Making the case for why he’s still buying retail properties, he added, “With retail, I am buying into New York’s population, compounded by appreciation.” Contrary to ageist stereotypes, he is well versed in Omni-Channel retailing, and keenly
You found the ideal place that will help your nonprofit program flourish and grow. Taking a mission-based approach to making significant decisions on whether to buy commercial real estate or initiate major renovations creates a competitive challenge as to what is possible. Then add a rising interest rate environment. Before making these major decisions, the nonprofit must truly understand its
Commercial sales are exceeding expectations.
“To place this era of unprecedented sales in historical context, the graph…shows South Coast sales volume has followed a stair-stepping growth pattern with three distinct phases, starting with the “great recession” 15 years ago. The recessionary phase lasted through 2011and was followed by a seven-year stretch averaging $315 million of non-hotel volume. 2022 was the
Early in this New Year, a retail landlord who owns over 200 buildings remarked to me: “Cash is king, always is. That’s why I don’t have any mortgages on any of my buildings.” Of course, not all buyers are in a position to follow his model. Very few retail buildings transferred in the last quarter of 2022, and it’s my
It is early January, and I am preparing for the new year ahead. I was cleaning out some old emails and files and found the article linked below from Chain Store Age (a key retail trade magazine). The story is about Ace Hardware, and their opening of 170 stores in 2022. The article also mentions that they operate over 5,600
Wow!! Check out the article below. Amazon has announced their first cinema ! The dominant leader in on-line experience(retail, streaming etc) is now moving more into “bricks and mortar”. With Amazon’s investment in content production it makes sense. Combined with Amazon’s growing investment in grocery and other retail concepts there is a clear message that bricks and mortar retail and
A prominent retail property owner recently commented to me that “our ability as human beings to predict the future is pretty limited.” Meanwhile, at last month’s ICSC, I was reminded that the problem with most available data on retail property sales is that it’s backward-looking. In short, our foresight is flawed, and hindsight often misleads us. The key to retail
This past week, a major West Coast shopping center developer told me, “Value doesn’t always mean cheaper.” He went on to explain that this principle applies broadly to many financial sectors, but has special relevance for retail real estate. At the heart of the matter, a triple-A retail location has value that transcends traditional investment metrics. Properties at these prime
“Following record-breaking commercial sales production in Q2, deal volume returned to more typical levels in Q3, as interest rate hikes began to create pricing friction in the South Coast market. Nevertheless, 2022 is already a banner year for sales.”
Some Q3 Highlights:
October 2022
“I am waiting for the market to crash to find great deals.” – NYC Retail Property Buyers
“Someday never comes.” — Creedence Clearwater Revival
I’ve been a retail real estate broker in NYC since February 4th, 2001, through multiple downturns, upturns, and side turns, and each one has been different. Through it all, I have heard the first