Monday, October 5th, 2020
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Conventional wisdom would dictate that in times of economic turbulence, a retail landlord might prefer to have an anchor tenant that offers essential services, like a grocery store.
But one observer thinks that during the COVID-19 crisis, non-anchored retail has done better than anchored at adapting to an uncertain environment.
Brian Capstick, EVP of Operations for Baceline Investments, which has 75% of its portfolio in non-anchored shopping centers across America’s heartland, has seen non-anchored shopping centers perform better, given the price, in his portfolio. Baceline runs 80 of these shopping centers with 850 tenants, including national chains and mom-and-pop stores, such as beauty salons, pet stores, optometrists, liquor stores, restaurants and wireless stores.
“You’re paying a lower cap rate or a higher price per square foot for anchored retail,” Capstick says. “You’re obviously paying a lower price for the non-anchored retail centers that we like to purchase. What we’ve seen
Gardening was a popular pastime this summer, and for good reason: Homeowners fearful of the coronavirus were avoiding grocery stores in favor of growing their own fruits and vegetables in their backyards (victory garden, anyone?).
But as you might recall, so many people were buying seeds in a panic, a shortage ensued in some areas. The good news: If you’ve let your garden run amok this fall, then odds are it’s bursting with seeds you can grab, store, and plant next spring.… Read More