CEO Dallas Tanner says home-price appreciation has made traditional scattered-home acquisitions difficult to justify for institutional capital.

Households are spending more largely because of higher prices and new expenses, while becoming increasingly selective about discretionary purchases.

Capital continues flowing into venture funding, manufacturing and acquisitions, but it has yet to generate enough real estate demand to absorb excess space.

As of July, the center was 94 percent leased to about 160 tenants.