Dec
15

Retailers Outbid Real Estate Investors for Vacant Big Boxes

By
– National Real Estate Investor

Investors searching for distressed big-box deals are facing competition from an unlikely source—retailers. Large tenants including Wal-Mart, Target, Kohls Department Stores and others have become aggressive bidders in the market for vacant big boxes. The retailers are buying distressed space from owners or banks, often at prices that are 20 percent to 30 percent higher than real estate investors are willing to pay.

As a result, retailers have become large players in the single-tenant market. For example, Matthew Sullivan, managing director with Los Angeles-based investment brokerage firm Lee & Associates Investment Services Group, says about 50 percent of the vacant boxes in California are being acquired by retailers.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Be Sociable, Share!
    Categories : National News

    Comments are closed.