Commercial real estate investors are finding a bevy of bargain buys on retail properties in high-traffic locations in emerging secondary markets. Often, these properties are under-leased and under-managed, and they simply need a new buyer’s influx of capital to reconfigure or repurpose them to attract better quality tenants that are willing able to pay higher rents.
In the current market, many restaurant chains and big-box discount stores, including TJ Maxx and Marshalls, view the sizable retail space left in the wake of shuttered Toys R Us and Sears stores as an opportunity to expand their footprints across the country. In addition, medical practices, hospitals and other employers recognize that a former retail space can be repurposed to expand their presence in popular live-work-play centers.
The important factors that investors need to consider when buying any shopping center are the value of the underlying property, based on its size and location, and the ability to have in place experienced and trusted partners who can provide ongoing property development and management services.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.