LAS VEGAS—There is a notable shift towards value-added projects in retail today, driven by the need to navigate the current financial terrain. So says Pablo Barreiro, chairman of Fortec, who has focused on enhancing communities and revitalizing neighborhoods. He tells GlobeSt.com that Fortec has embarked on a mission to transform vacant properties into vibrant educational hubs tailored to the needs of communities.
The focus on built-to-suit educational projects is not just a strategic move; it's a response to an underserved sector yearning for quality educational infrastructure. In today's market, where fluctuations abound, such value-added initiatives stand resilient, offering both social impact and financial viability, he says.
Barreiro predicts an intriguing trajectory for the property sector in the coming year, especially with interest rates poised to maintain their current stance. In this scenario, he says, investors are likely to gravitate towards projects offering higher returns, seeking to counterbalance the challenges posed by stagnant interest rates.
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For Fortec, this presents a unique opportunity, he tells GlobeSt.com. As sellers strive to sweeten deals to stimulate transaction activity, preschool and school tenants under Fortec's umbrella could stand to benefit from more favorable terms. In addition, he says, with construction costs on a downward trend, the prospects for expansion and growth for these tenants appear increasingly accessible.
Check out related retail stories below that you might have missed and stay tuned for more trend coverage from other retail experts we spoke with as the ICSC approaches.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
