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.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
