Tony Wilbert

3 weeks ago | costar.com | Tony Wilbert

CBL Properties, a real estate investment trust that owns Class B and C malls, plans to sell more noncore retail properties as it pays down debt and works to invest in its overall portfolio, according to CEO Stephen Lebovitz. The Chattanooga, Tennessee-based REIT recently sold Alamance Crossing, a 451,582-square-foot regional lifestyle center in Burlington, New Jersey, for $37.2 million as part of its program to recycle capital and invest in its core properties.

4 weeks ago | costar.com | Tony Wilbert

Tariffs imposed on goods shipped to the United States from other countries could affect the cost of customizing spaces for retail tenants and result in longer build-outs, according to Branch Properties Partner Brett Horowitz. A good chunk of Branch's business right now is with Publix Super Markets, for which the Atlanta-based firm is developing several new locations across the Sun Belt.

1 month ago | costar.com | Tony Wilbert

At a time of tight supply for retail space, landlords are more likely to be open to making available to prospective tenants the shops now occupied by struggling operators, according to Hue Chen, president of shopping center owner Saglo Cos. In the United States, the overall vacancy rate is 4.2% for the country's 12.1 billion square feet of retail space, and that's led to increased competition among occupiers, from CoStar Market Analytics.

1 month ago | costar.com | Tony Wilbert

If tariffs lead consumers to feel financial stress, the fallout could surpass the benefits of a tight retail property market, according to Naveen Jaggi, president of retail advisory services for the Americas at JLL. While demand is strong as companies seek new locations at a time of little availability, shifts in U.S. trade policy have created unpredictability that could hurt consumers, Jaggi explained in an interview at the ICSC Las Vegas industry convention this past week.

1 month ago | costar.com | Tony Wilbert

Shop space across the country remains difficult to find, and some properties have waiting lists for properties that become available, according to Anjee Solanki, the head of United States retail at global brokerage Colliers. Retail space is at a premium due to the combination of peak occupancy levels at open-air properties and malls and a drop in the already relatively low amount of new retail construction, Solanki said in an interview at the ICSC Las Vegas industry convention this week.