Thank you for sharing!

Your article was successfully shared with the contacts you provided.

High-street retail is going through an adjustment period—much like all retail asset classes. Both institutional and private investors are looking carefully at market fundamentals and property fundamentals, but for properties that check the right boxes, there are still active buyers. In some cases, even bidding wars.

“Street retail properties are going through a level of adjustment and evolution similar to what we are seeing in other categories of retail,” Carlos Lopez, EVP at Hanley Investment Group, tells GlobeSt.com. “In ideal, select markets, prominent, street retail properties continue to attract buyers. In today’s market, whether an institutional buyer or private capital, buyers and lenders are carefully looking at the real estate fundamentals of a property, whether it is a high-street property, grocery-anchored shopping center, power center, a strip center or a single-tenant retail asset.”

Hanley has seen the trend on some recent deals. It closed a high-street deal on Robertson in Beverly Hills with a 28% vacancy. However, the market fundamentals told a compelling story that resulted in multiple offers. “The investment included the opportunity to lease-up a 2,425-square-foot, endcap space on a high-visibility corner located less than one mile from the Golden Triangle,” Lopez says. “Despite the 28% vacancy, Hanley Investment Group generated multiple, qualified all-cash offers within the first several weeks of marketing the 8,745-square-foot multi-tenant retail property. The sale price was $8 million, representing $920 per square feet.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.