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“The deal represented a value-add opportunity for the purchaser to obtain higher rents by upgrading kitchens and baths," says Kislak's Robert Holland. It's the fifth time Kislak has brokered a sale of the properties.
Hartman Simon attorney Jeremy Cohen catches up with GlobeSt.com at ICSC's RECon event to discuss three key factors at play when developing a center from a retail standpoint.
During the first quarter of the year, job growth, energy-related activities and import/export trade all boasted positive grades, with Houston appearing poised for recovery amid 12 months of 63,600 new jobs.
One of the downtown properties with several new leases is Republic Center, boasting occupancy well above the CBD average, and adjacent to public transportation and the soon-to-be Pacific Plaza Park.
Landlords are backfilling vacant big-box spaces with multiple discount retailers, while Amazon explores growth in brick and mortar to complement their digital presence, says Hanley Investment Group's Bill Asher.