Michael Mugel Mugel: “Retail is going through a very dynamic change right now for a lot of different reasons. Some think it’s because of the Internet, but I’m not a big believer in that.”

SANTA ANA, CA— The retail sector’s growth before the economic downturn was not based on strong fundamentals, and now the players are being the efficient machines they need to become in order to compete in today’s fast-paced world, Red Mountain Group’s CEO Michael Mugel tells GlobeSt.com. The firm recently completed the simultaneous acquisition and disposition of four properties in one day valued at more than $47.2 million. These transactions were part of Red Mountain’s strategic plan to replace assets in the competitive grocery-anchored segment with urban infill redevelopment opportunities.

The company sold Copperwood Square Shopping Center, a 123,390-square-foot retail center in Citrus Heights, CA, and purchased a 63,000-square-foot building located in Glendale, CA, in addition to purchasing a 37,606-square-foot retail center in Memphis and a restaurant pad in Phoenix. We spoke exclusively with Mugel about his firm’s repositioning strategy and retail-sector trends in general.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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