Complex of shops, usually under one roof
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It's budget season—and here's exactly how I build shopping center budgets from scratch.In Episode 65 of “I Own a Shopping Center. Now What?”, I take you behind the scenes of my step-by-step budgeting process. If you're an owner preparing budgets between September and October, this episode is for you. I'll show you how I forecast expenses using actuals, estimate income from leasing activity, and plan ahead for those “surprise” costs like security or vacancies.I break down how to handle vendor increases, project leasing income, and when it's smart to loop in partners. I also share strategies to help you impress your institutional clients during budget season. And—don't miss my special invitation to the Women's Real Estate Investment Summit!Key Takeaways:Use actuals from the first 8–9 months to build your budgetSpread recurring costs (like landscaping) evenly across 12 monthsEstimate real estate taxes using current TRIM notices plus 10%Don't prompt vendors for increases—budget a standard 10% bumpAccount for vacancies and utilities based on lease-up expectationsInclude leasing income and TIs with detailed assumptionsFinalize budgets before Thanksgiving, allowing 6–8 weeks to completeSend drafts to key partners for feedback if neededUnexpected expenses (e.g., security) should be noted in reportsRemember: institutions often consider switching third-party firms post-budget seasonBECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor
Shopping centers may not dominate headlines like multifamily or industrial, but they remain one of the most overlooked opportunities in commercial real estate. In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Andy Weiner, founder and president of RockStep Capital, to discuss how shopping centers, especially in hometown markets, continue to thrive. Andy shares his unique approach to repositioning retail properties, building coalitions with local leaders, and investing where others often overlook. With decades of experience in retail and real estate, Andy has witnessed firsthand how Amazon, shifting consumer habits, and COVID have transformed the shopping center landscape. Instead of retreating, he's leaned into markets with essential drivers—universities, military bases, strong hospital systems, and tourism—that support community retail. His RockStep coalition model brings together local investors, banks, and municipalities to revitalize shopping centers, creating not just strong investments but also community anchors. Jonathan and Andy explore the nuances of evaluating tenants, identifying markets with sustainable growth, and managing assets in a way that prioritizes both profitability and long-term community impact. This conversation challenges the narrative that retail is dead, highlighting why shopping centers in secondary and tertiary markets may be some of the most compelling opportunities available today. In this episode, you will hear: The philosophy behind RockStep Capital and the meaning of rock step in business Andy's journey from family retail operations to shopping center investment The distinctions between grocery-anchored centers, power centers, and enclosed malls Investment advantages in hometown markets with strong community ties The role of local business leaders, banks, and municipalities in successful retail repositioning How positive leverage creates strong yields in shopping center investments Considerations for smaller retail properties as a starting point for new investors Ways demographics and employment drivers shape retail viability Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: RockStep Capital website - rockstep.com The Shopping Center on YouTube - www.youtube.com/@TheShoppingCenterChannel Andy Weiner on Instagram - www.instagram.com/theshoppingcenterguy Connect with Andy on LinkedIn - www.linkedin.com/in/andy-weiner Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - info@streamlined.properties Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
What if you could train your leasing team without spending thousands on a coach?In Episode 64 of I Own a Shopping Center. Now What?, Beth Azor shares a powerful, low-cost strategy for improving leasing team performance—using her Retail Leasing Playbook Podcast. While attending ICSC Orlando, Beth spoke with a listener who wanted her to train his team, but she recommended a free, scalable alternative: assigning her podcast as weekly “homework.”Beth walks through how leasing directors can use the podcast to upskill their teams week by week. She explains how this method can spark higher leasing activity, boost rental rates, and increase property value—all without needing to fly her in.Beth also promotes her Women's Real Estate Investment Summit, encouraging the male-heavy audience to send the women in their lives. With 250+ attendees from multiple asset classes, it's a prime networking and educational event for female investors.✅ Key Takeaways-Use the Retail Leasing Playbook Podcast as free training for your leasing team-Assign two chapters per week and discuss takeaways in weekly meetings-Implementing this structure can increase leasing activity and rental income-Third-party brokers can benefit from this training too-You don't need Beth in person—her content is accessible for free-92% of the podcast audience is male, but her summit empowers female investors-The Women's Real Estate Investment Summit fosters education, networking, and joint venturesBECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor
Syndication structures are changing—and in this episode, Beth Azor unpacks exactly how.From preferred returns and promotes to unusual LP terms and fee-loaded deals, Beth breaks down the many syndication models she's encountered—both as an LP and a GP. She shares what she looks for before investing, the red flags that turn her off, and the structure she prefers when raising money herself. Whether you're a new sponsor or an LP eyeing your next investment, you'll walk away with tactical insight on evaluating and designing win-win syndication deals.✅ Key Takeaways-Preferred returns vary with market conditions-Promotes typically kick in after full LP return-Sponsors should have skin in the game-Some are raising without preferred returns or promotes-Fee-heavy structures are common—but not always justifiedLPs want transparency, alignment, and realistic projections-Creatively structured deals can benefit all parties-Fundraising speed often reflects investor trustBECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor
One bad hire during a renovation can cost you six figures—here's how to -prevent that.In this episode, Beth Azor shares why hiring a project manager is one of the smartest investments a shopping center owner can make. From avoiding costly delays to managing complex renovations and tenant buildouts, Beth reflects on key lessons from her own experiences—including a $3.5M renovation that finished on time and under budget. She unpacks when to bring in a PM, what they really do behind the scenes, and why it's especially critical if you're managing other people's money. Whether you're just starting out or leading multiple deals, this is your cheat sheet to smoother construction and smarter asset management.✅ Key Takeaways-You don't need to be a construction expert to renovate well.-Project managers save time, money, and stress.-Hiring one early prevents major oversights.-Always bring in a PM for tenant buildouts.-Florida's 40-year inspections demand serious oversight.-Syndicators should never DIY construction management.-Great PMs are worth every penny.-Even small projects can benefit from a PM.
Join an active community of RE investors here: https://linktr.ee/gabepetersenWHY SHOPPING CENTERS CRUSH OTHER COMMERCIAL REAL ESTATE TODAYDiscover the shocking truth about shopping center investing with Andy Weiner from Rockstep Capital!
Episode 464: I will discuss the history and my memories for the 60th anniversary of the grand opening of Ford City Shopping Center in Chicago.
Episode 464: I will discuss the history and my memories for the 60th anniversary of the grand opening of Ford City Shopping Center in Chicago.
Imagine buying my first shopping center for $3.5M… and letting $1M in potential value sit vacant. That's exactly what happened—and it took a no-fluff wake-up call from Beth Azor to make me see the truth every investor needs to hear.In this episode, I unpack my conversation with a doctor-turned-investor who bought a 10-tenant retail property but is frustrated by two vacancies. Despite keeping the seller's leasing team, nothing's getting filled—and here's the kicker: I haven't even visited the market. Beth walks me through how that hands-off approach is costing me big, both in annual rent and in property value.This episode is a powerful case study in the cost of inaction—and what it really takes to build a successful portfolio of shopping centers.
In this episode, I share a compelling story about how collecting tenant sales data helped me identify a struggling franchise tenant—and how one smart hiring decision turned that failing store into a top performer. I emphasize the importance of staying proactive with your tenants, even if you're not managing a local property, and why absentee ownership can be a serious red flag.From spotting red flags to celebrating a turnaround, this episode highlights the power of involvement, holding tenants accountable, and simply paying attention to what's happening on-site.
Adam and Dr. Drew kick things off by weighing the beauty of California against its increasingly dysfunctional governance. Dr. Drew asks how Rick Caruso foresaw the need to hire a private fire department just days before the Southern California wildfires hit, leading Adam to compare Caruso's foresight with Mayor Karen Bass's lackluster response. The conversation turns to an old LA Times article about how Dr. Drew was considered for the city's homeless commission, sparking backlash from the political left.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode, I share a wild (and very real) lesson on tortious interference - what it means, how I got sued for it, and what every landlord should understand when it comes to transferring leases. From NFL players selling overpriced smoothie shops to doctors trying their hand at burger franchises, I've seen my share of risky lease assignments - and learned to trust my instincts.I walk through two real-life examples where I blocked lease transfers, faced legal threats, and ultimately protected my shopping centers. I also explain how I secured personal guarantees, maintained leverage, and stayed paid when things went sideways. For any landlord who's ever second-guessed their judgment or felt pressured into approving a shaky deal, this episode is essential listening.Key Insights:✔️ Tortious interference claims can surface - even when protecting the asset✔️ Lease assignment red flags are worth paying attention to✔️ Personal guarantees offer critical protection from unqualified tenants✔️ Tenants often return admitting they should have followed advice✔️ Backup tenants and strong lease terms can protect the landlord's position✔️ Sometimes, saying “no” is the most responsible thing a landlord can do
Discover what does it take to grow from humble beginnings to over $260 million in real estate acquisitions and more than $150 million in capital raised. In this powerhouse episode, Tom Berry pulls back the curtain on his journey—starting with nothing and scaling into a diversified portfolio spanning single-family homes, multifamily, office, retail, and note investing. He shares the real-world lessons from decades in the trenches, the strategy behind his pivot into commercial assets, and why mindset is your greatest asset as an investor. If you're serious about wealth-building, this is an episode you can't afford to skip.5 Key Takeaways from the Episode:Start Where You Are – Tom began with no capital and no connections, proving resourcefulness matters more than resources.Pivots Are Powerful – His transition from single-family to commercial assets like shopping centers and notes multiplied his portfolio's value.Mindset Over Mechanics – Success wasn't just about numbers—it was about shifting his beliefs and habits to match his goals.Raise the Right Way – Tom breaks down how he raised over $150M ethically, legally, and with integrity—no gimmicks.Diversify with Intention – Real wealth, according to Tom, comes from smart, diversified investments backed by deep due diligence and education.About Tim MaiTim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches.He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing.He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares. He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers.Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments.Connect with TimWebsite: Capital Raising PartyFacebook: Tim Mai | Capital Raising Nation Instagram: @timmaicomTwitter: @timmaiLinkedIn: Tim MaiYouTube: Tim Mai
Hour 3 - Towne West isn't the only mall expected to undergo changes. Wichita Business Journal Editor Kirk Seminoff joins us to wrap up a Monday.
Brandy Mathie is Director of Site Acquisition and Portfolio Management at Electrify America, the largest open hyper-fast electric vehicle charging network in the U.S. Mathie explains the company's growth, future goals, and the logistics of deploying charging stations in retail locations. She also covers customer experience, ideal site locations, and the increasing demand for EV infrastructure. James Cook is the Director of Retail Research in the Americas for JLL. Keisha Virtue is Retail Research Manager for JLL. James Cook is the director of retail research in the Americas for JLL. Subscribe: Apple Podcasts | Spotify Listen: WhereWeBuy.show Email: jamesd.cook@jll.com YouTube: http://everythingweknow.show/ Read more retail research here: http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.
After 30+ years in the business, it takes a lot to surprise me—but this lease clause did just that. In this episode, I share the unique situation that forced me to rethink how I approach use clauses. A tenant with a one-of-a-kind concept insisted on “any lawful retail use” as a condition of the lease. My initial reaction? No way. But what followed was a negotiation that pushed both sides to get creative.I walk through the four protections I added—including noxious use exclusions, existing tenant conflict language, and even a recapture clause—all while preserving the deal and protecting my asset. If you've ever dealt with an assignment clause that felt like a landmine, or a tenant who had no potential assignee, this episode will give you a new playbook.Key Insights:✔️ Narrow use clauses protect your center—but sometimes, compromise is required✔️ “Any lawful use” isn't always risky—if structured carefully✔️ Noxious use exclusions help future-proof your lease against shifting laws✔️ Active negotiations and LOIs should also block conflicting assignments✔️ A recapture clause gives landlords control in grey areas✔️ Early negotiation (at LOI stage) helps avoid legal standoffs later
Chapel Hill Mayor Jess Anderson spoke with 97.9 The Hill's Andrew Stuckey on Thursday, July 10, discussing the ongoing recovery efforts from Tropical Storm Chantal. She discussed visiting Camelot Village apartments, and the challenges faced by that community after the latest flood. She also discussed University Place and the flooding there. She talked about Eastgate Shopping Center, which saw catastrophic flooding. She suggested ways the community could help support these businesses and displaces residents, and more. The post Chapel Hill: Storm Recovery at Camelot Village, Eastgate Shopping Center, and More appeared first on Chapelboro.com.
Should you be posting rental rates on sites like Crexi or LoopNet? In this episode, I explain why I don't—and why you shouldn't either. A Facebook post from a frustrated agent sparked this conversation, but it revealed a much bigger issue: in retail real estate, rent is never one-size-fits-all.I walk through exactly how I price space in my shopping centers, from tenant type to visibility to square footage and even lease term. I also share a story about a client who was charging the same rate—$23 PSF—across every property, including a second-story office and a Publix-anchored outparcel. Spoiler: We fixed that, fast. If you're looking to maximize NOI and get strategic about rent setting, this episode breaks down how to think like a pro.Key Insights:✔️ Rent should vary by tenant use, size, visibility, and lease term✔️ One flat rate across all units can dramatically limit your upside✔️ You can and should charge more for endcaps and high-traffic locations✔️ Don't let online listings lock you into underpriced deals✔️ Educate your leasing agents on rent flexibility✔️ Strategic rent setting = long-term NOI growth
What happens when you've got a perfectly good vacancy—but exclusives are tying your hands? In this episode, I walk through one of my current leasing challenges: a second-gen restaurant space that should be a no-brainer to fill... except I'm bound by a long list of tenant exclusives. From chicken and bubble tea to even Middle Eastern food—I'm locked out of nearly every popular restaurant category.But here's the truth: exclusives are common, and they don't have to stall your leasing. I share the real-world strategies I use to work around them—like how I got a Latin restaurant in under a chicken-exclusive, and when it might actually make sense to challenge or negotiate a waiver. I also break down creative site planning tactics that can open doors to entirely new tenant types. If you've ever been stuck with a “hard-to-lease” space, this one's for you.Key Insights:✔️ Exclusives are everywhere—but they're not deal-breakers✔️ Strategic tenant outreach starts with knowing your approved categories✔️ Get creative with space planning to unlock better tenant matches✔️ Know the penalties for breaking exclusives—it might be worth it✔️ Waivers are possible—but often come with negotiation✔️ Encourage leasing agents to explore unexpected tenant formats
What do you do when a great property refuses to lease up—despite all your best strategies? In this episode, I share the full story of one of the toughest assets in my portfolio: a 24,000 SF strip center right across from Sawgrass Mills Mall that should've been a slam dunk. But thanks to poor visibility from outparcels, it sat at 60% occupancy for years. I tried everything—canvassing, broker incentives, Facebook ads, even a party. Nothing worked.Eventually, I swallowed my pride, hired a third-party broker, and together we came up with something bold: offer one year of free rent—no TI, full guarantees, no gimmicks. That single shift caught tenants' attention and changed everything. We fully leased the center in five months and ended up selling it shortly after. If you're feeling stuck with your leasing strategy, this episode is the permission you need to shake things up.Key Insights:✔️ Even experienced owners sometimes need outside help✔️ Lack of visibility can kill demand—no matter how strong the market✔️ One year of free rent (with no TI) can still create a win-win✔️ Pressure with urgency—“clock starts in January” drove action✔️ Creativity and humility matter as much as hustle✔️ When leasing stalls, shake up the system and brainstorm hardIf you're feeling stuck on a tough leasing deal, this episode is proof that sometimes the best move is the bold one. Don't be afraid to pivot. Your next lease might just need a different play.
Conor Flynn, CEO of Kimco Realty (NYSE: KIM) and Nareit 2025 Chair, joined the 500th episode of the REIT Report to provide a close-up view of how a leading retail REIT is navigating today's complex market environment.Flynn highlighted the resiliency of both the consumer and tenant base in the open-air shopping center space, pointing out that there's been 13 years of virtually no new supply.“That obviously is a big benefit and it's showcasing in the occupancy side because occupancies now are at all-time highs. Even with some disruption from tariffs and some smaller bankruptcies, retailers are continuing to expand their footprint and have identified that the store base is really the best opportunity, and the most profitable, to service the consumer in as many ways as possible,” Flynn said.He noted that convenience and value are “the sweet spot of where consumers are focused today.”
In this episode of the Jake and Gino Podcast, we dive deep into the world of retail real estate with Andy Weiner, Founder and President of Rockstep Capital. Andy shares how he transitioned from running a family clothing empire to revitalizing struggling malls in secondary and tertiary markets. Discover how his “Rock Steps” culture drives high performance, why retail isn't dead, and how positive leverage and local community partnerships are the secret to sustainable success. You'll learn:- Why the future of malls lies in mixed-use redevelopment- How Andy secures non-recourse community bank loans- The benefits of buying at a 15-cap and de-malling to an 8-cap- The biggest mistakes new retail investors make- The unique power of local investors and positive leverage Whether you're a seasoned multifamily investor or curious about diversifying into retail, this is a masterclass in spotting hidden value in overlooked markets. Learn more: https://rockstep.comVisit Rockstep's Learning Center: https://rockstep.com/learning-center/Chapters:00:00:00 - Introduction 00:04:08 - Family Business Struggles and Strategic Lesson 00:06:00 - Leadership at 32: Earning Respect and Setting Vision 00:07:53 - First Real Estate Deal: Assembling Land for Lowe's 00:09:40 - Identifying Opportunity in Retail Real Estate 00:15:24 - The Vicksburg Model and Rockstep's Track Record 00:23:51 - Top Investor Mistakes in Shopping Centers 00:25:20 - Has E-Commerce Killed Retail? 00:29:22 - “Rock Steps” Culture and Company-Wide Accountability 00:34:12 - Brick-and-Mortar + App + Distribution: The Retail Trifecta 00:46:28 - Tractor Supply Love & Market Size Criteria 00:48:04 - Gino Wraps it Up We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors)
Buying a shopping center off-market? It's not fast. It's not easy. But if you play the long game—it can be wildly profitable. In this episode, I reveal how she secured multiple off-market deals by doing what most investors won't: cultivating relationships for years.From befriending a 76-year-old owner (who eventually made her his 50/50 GP partner!) to pulling off a seller-financed deal in under 30 days, I share the behind-the-scenes stories of mu best acquisitions—and exactly how I made them happen. I also explain how one coaching client turned an outperforming asset into a portfolio expansion using the “knock-on-doors” method.If you're tired of getting beat out on listed deals or just want better returns, this episode is your roadmap to relationship-based acquisitions that actually work.Key Insights:✔️ Off-market deals take patience—but can deliver incredible upside✔️ Add value early—before an owner is ready to sell✔️ Seller financing is possible—even on a tight timeline✔️ Managing and leasing for free can be a strategic foot in the door✔️ Use overperforming assets as a launchpad to buy nearby centers✔️ Don't wait for deals to be listed—make the first moveWhether you're a long-term investor or just breaking into CRE, this episode will challenge how you think about deal sourcing. The best opportunities aren't on LoopNet—they're hiding in plain sight.
EV chargers are popping up in shopping centers everywhere, promising “free” money through ancillary income deals—but I say: not so fast. In this episode, I break down the hidden risks of adding EV charging stations, especially when it comes to parking ratios and long-term tenant satisfaction.I explain why I haven't jumped on the EV charger bandwagon just yet, including the potential loss of valuable parking spaces and the unintended consequences it could have on restaurant tenants and customer traffic. If you're considering installing EV chargers at your property, this episode might change your approach.Key Insights:✔️ EV charger companies often provide free equipment—but at the cost of parking spaces✔️ Losing key parking can negatively affect restaurants and high-traffic tenants✔️ Ancillary income is great, but not if it reduces your overall leasing potential✔️ Every parking decision should factor into your site's overall tenant mix and traffic flow✔️ What looks like “free money” could cost you in NOI down the line
Send us a textTHG chats with Eddie Long, owner of the Genesis Fair-Trade Coffee Shop and Shopping Center in Newberry, SC. Explore Eddie's journey and efforts to bringing awareness to mindful consumption and sustainability. Support the showBOOK OUR SPACE (Columbia):https://www.peerspace.com/pages/listings/673ab11c9ec72595c7e5f909 BOOK OUR SPACE (Charleston): https://www.peerspace.com/pages/listings/67ae7cb5cb965a8e4b77028f https://www.peerspace.com/pages/listings/67a92b506ec2c3b8a866f42e Make sure to subscribe to us on Spotify, Apple Podcasts, and YouTube. Also follow us on Instagram and Facebook @hilltopglove. Sponsored by: @lynxrecording @asylumdigital @celebstudio_ @the_dollarsto @trubrilliance_ . Become a member of our Patreon channel to get access to full video episodes, early premieres, and bonus content! Make sure to check out latest series, Amplifying Voices: Carolina...
Ever wonder what your leasing broker is really dealing with behind the scenes? In this episode, I give shopping center owners a brutally honest breakdown of what it's like to be a retail leasing broker - from commission-only paychecks to years of hustling without listings or income. If you're considering hiring a broker (or trying to figure out why yours isn't delivering), this is a must-listen.I share the hidden realities of training, hunger, experience, and how to spot the difference between a hustler and someone just riding the title. Whether you're managing a broker or deciding whether your nephew should give it a go, this episode helps you make smarter decisions and set more realistic expectations.Key Insights:✔️ Most commercial leasing brokers start commission-only and need a second job to survive.✔️ Newbies rarely get proper training—owners should ask how they learned the business.✔️ A broker's “hunger” is often shaped by their early hustle, not their title.✔️ Big brokerage firms don't always train or assign listings to juniors.✔️ Rockstars with 30+ listings probably aren't cold calling for your 1,200 SF vacancy.✔️ Don't assume activity—ask direct questions about canvassing and prospecting habits.
Not all strip centers are created equal - and if you're looking to buy one, you better know what to look for. In this episode, I break down the critical (and often overlooked) details that can make or break your investment.From parking ratios and restaurant tenants to visibility challenges and shifting demographics, Beth shares the exact advice she's giving in DMs and emails to prospective buyers. I even open up about a shopping center I couldn't lease - because of poor visibility - and what I learned the hard way.Thinking about splitting a 10,000 SF space into four bays? I get into the real costs - and why you should lease it first, then build it out. This is must-hear guidance for anyone buying or repositioning a center in today's market.Key Insights: ✔️ Restaurants bring rent—but need the most parking ✔️ Poor visibility = long, painful vacancy battles ✔️ Traffic counts and tenant mix reveal a center's true potential ✔️ Changing demographics can stall leasing momentum ✔️ Splitting space costs six figures—lease before you spend ✔️ Homeless issues? Temporary security can work wondersThis episode is full of tactical tips for evaluating a deal beyond the surface. If you're serious about buying strip centers, this is your blueprint to avoid costly mistakes—and lease faster, smarter, and stronger.
We're always told to be responsive - but can you be too responsive? In this milestone 50th episode, I share when rapid response is a superpower in leasing… and when it actually backfires. From texting prospects on planes to responding to market study calls, she outlines when responsiveness builds trust - and when it trains tenants to abuse it.I also share my policy for returning broker calls, handling problem tenants, and even paying vendors fast to earn loyalty. But for those few tenants who call every day with non-issues? I explain exactly why not calling back immediately is the right move.Key Insights:✔️ Text-for-info signs increase lead response, even mid-flight✔️ Always return broker and vendor calls—it pays off long term✔️ Pay vendors quickly to get prioritized in return✔️ Some tenants use quick replies to demand excessive attention✔️ It's okay to delay responses to problem tenants—set boundaries✔️ Responsiveness should be strategic, not reactiveEven though responsiveness is key to great landlord-tenant relationships, knowing when to pause is just as powerful. This episode gives you permission to protect your time—and train your tenants to respect it.
Building Places | People, Cities and the Future of Real Estate
In this JLL "Trends & Insights" episode, Tanger CEO Stephen Yalof discusses the pivotal changes in Tanger's retail real estate strategy with JLL's Naveen Jaggi. Originally an outlet center company, Tanger is now pivoting towards experience-focused, full-price centers. Yalof outlines how post-COVID dynamics, such as the popularity of open-air environments and the addition of food and lifestyle experiences, inform this shift. The discussion also touches on retailers' cautious optimism reflected in their long-term strategies, the impact of blending full-price and outlet spaces, and Tanger's future investment plans in lesser-known but high-potential markets. The conversation concludes with insights into the evolving landscape of shopping centers, emphasizing the importance of creating compelling consumer experiences. Subscribe: Apple Podcasts | Spotify | Google Podcasts Email us at trendspodcast@JLL.com. Get more insights about commercial real estate here.
Think your portfolio is too small to call national retailers? Think again. In this episode, I break down down why even small shopping center owners should reach out to national tenants directly. Whether you own one property or 50, the key is to do your homework, know what the retailer needs, and make a compelling case for why your location is the perfect fit.I share practical tips on how to get past the gatekeepers, why most landlords never visit retailer headquarters (and why you should), and how building these connections early can pay off as your portfolio grows. Don't wait—learn how to confidently approach national retailers and set yourself apart from the crowd.Key Insights:✔️ You don't need a huge portfolio to approach national retailers—just do your research✔️ Know the brand's needs before you call, and offer something valuable✔️ Visit retailer headquarters whenever possible—few landlords make the effort✔️ Confidence and preparation go a long way—don't be intimidated✔️ Start building relationships now, even if you're a small portfolio ownerEven if you're just starting out with a few properties, now is the time to make connections with the brands you want in your shopping center. As your portfolio grows, these relationships can give you a competitive edge and help you secure high-quality tenants down the line.If you've ever felt hesitant to reach out to a national retailer, this episode will give you the mindset and strategy to move forward with confidence.
Sometimes it's the little details that make the biggest impact. In this episode, I share the small but powerful changes she's made to lease her shopping center spaces faster. From adding "Text for Info" to her leasing signs to setting up a quasi leasing office inside vacant spaces, I explain how these simple tweaks attract more interest and create opportunities to connect with prospective tenants.I also cover practical tips like keeping utilities on to make spaces more inviting, using a single master key for all vacancies, and updating flyer images to reflect the most popular tenants. Whether you're trying to lease a few spaces or manage a larger portfolio, these ideas will help you present your properties better and make leasing easier.Key Insights:✔️ Keep utilities on in vacant spaces—comfort and safety matter✔️ Use a single master key for easier access to all vacancies✔️ Set up a simple quasi leasing office for on-site meetings✔️ Add “Text for Info” on your leasing signs—easy for prospects✔️ Update flyer images to feature your most popular tenants✔️ Highlight infrastructure like grease traps on storefront banners
In this powerhouse episode, Matty A sits down with Andy Weiner — the Founder & President of RockStep Capital — to explore how he amassed over 10 million square feet of commercial retail real estate across 11 states. From a childhood immersed in his family's 159-store clothing chain to mastering acquisitions in “Hometown America,” Andy breaks down how his strategic investments in secondary and tertiary markets are creating outsized returns while revitalizing communities. He explains why retail is now a bullish asset class, how positive leverage is giving retail an edge over multifamily and industrial, and shares insights into RockStep's culture built around their unique core values, the “Rock Steps.” In This Episode, You'll Learn: (03:40) Andy's origin story: From family retail business to real estate mogul (05:02) Types of shopping centers RockStep acquires: neighborhood, power, enclosed malls (07:56) Why retail has favorable supply/demand dynamics in 2025 (10:01) Positive vs. negative leverage in CRE deals (13:27) What makes secondary & tertiary markets so investable (20:38) RockStep's strategy for buying distressed malls at 15–17% cap rates (28:06) The origin and meaning behind RockStep's company values (42:19) Inside the Hometown America Fund: 8–9% pref, 18%+ IRR goals (46:27) Thoughts on alternative investments in volatile times Resources Mentioned: RockStep Capital Website: http://rockstep.com Connect with Andy on LinkedIn: https://www.linkedin.com/in/andy-weiner/ Shopping Center Academy on YouTube: http://www.youtube.com/@ShoppingCenterAcademy Episode Sponsored By: Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/ CRE MASTERMIND: Visit myfirst50k.com and submit your application to join! FREE CRE Crash Course: Text “FREE” to 844-447-1555 FREE Financial X-Ray: Text "XRAY" to 844-447-1555
Virginia transit officials recommended funding for 14 transportation projects in the Richmond region through SMART SCALE, a U.K.-based parent company of local insurance firm sells its U.S.-based business, and a global toy store plans to open in Henrico County's Olde Town Shopping Center.
ICSC Vegas is fast approaching - but should small shopping center owners actually go? In this episode, I break down whether the biggest retail real estate event of the year is worth the cost and time for investors who own just a few properties.From networking hacks (like who you might meet in a rideshare) to what part of the event is actually valuable (hint: Professional Development Sunday), I share real talk on what you'll get - and what you won't - if you're going to Vegas with a small portfolio and big expectations.Key Insights:✔️ ICSC Vegas is valuable for education and connections—but may not land you tenants✔️ Local or regional ICSC shows are far more productive for small owners✔️ If you're going, don't miss Professional Development Sunday✔️ Avoid marketing to national tenants unless your portfolio justifies it✔️ Use LinkedIn to pre-book meetings and avoid wandering the floor✔️ Network early: opportunities start at the airport gate and hotel lobby
What if you started in real estate at 18 and built an empire worth over $575 million? In this powerful episode of the Hero Capital Show, Tim Mai sits down with Brian Baniqued, a second-generation real estate broker and dynamic entrepreneur whose journey spans multifamily syndications, office complexes, retail centers, and even modular development. Brian shares how he went from organizing papers in his mom's real estate office to building vertically integrated companies in brokerage, finance, and property management—all while raising $27M+ in capital. You'll discover his early cash-flow strategy with FHA fourplexes, his transition into syndication and condo development, and how he now leverages modular construction to build faster and smarter. Top 5 Key Takeaways:- Start Young, Think Big: Brian began at 18 by house-hacking with FHA loans and quickly scaled into multifamily ownership.- Power of 1031 Exchanges: He used strategic exchanges to go from small fourplexes to large apartment buildings and commercial assets.- Vertical Integration Advantage: By building brokerage, mortgage, and management companies, Brian controlled every part of the investment life cycle.- Modular Construction Insights: Learn the pros, cons, and cost nuances of using prefab construction for faster multifamily builds.- Investor Loyalty Through Strategy: His ability to guide investors through exit strategies and reinvestments built a loyal capital base over decades.About Tim MaiTim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches.He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing.He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares. He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers.Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments.Connect with TimWebsite: Capital Raising PartyFacebook: Tim Mai | Capital Raising Nation Instagram: @timmaicomTwitter: @timmaiLinkedIn: Tim MaiYouTube: Tim Mai
This week on the News Man Weekly, host Carl Hunnell sits down with Grace Riegel, Miss Mansfield and member of the 179th Cyberspace Wing, as she prepares to compete in the upcoming Miss Ohio Scholarship Program. Grace shares her journey from Lexington High School to military service, her passion for advocating for students with dyslexia, and what it means to represent her hometown on a big stage. Source Media journalist and self-proclaimed Grace Riegel fangirl, Mariah Thomas also joins us for the lively discussion and to receive some life lessons from Hunnell. Hunnell is also joined by executive producer Zac Hiser and video producer Grant Ritchey. They discuss a packed news week which included ongoing sexual abuse investigations at Faith Life Church. a new Cannabis dispensary in Mansfield, updates on the West Park Shopping Center and much more. Special thanks to our sponsor, Relax, It's Just Coffee — because every good day (and every good podcast) starts with a great cup of coffee. Relevant links: Former Faith Life Church official indicted on 27 sexual abuse charges- Mansfield's first cannabis dispensary opens Get tickets for "Beyond the Trail: A conversation with Iditarod racer Matthew Failor Intro song credit: Smoke And Drink, by Luke Watson. Be a Source Member for unlimited access to local, independent journalism. Support the show: https://richlandsource.com/membersSee omnystudio.com/listener for privacy information.
Last week was all about reports - but I left one of the most important off the list: occupancy percentage. In this episode, I dive deep into how tracking tenant occupancy costs not only helps you price rent with confidence, but also helps you spot trouble early, negotiate smarter, and even defend higher valuations with lenders and buyers.I share how I've used this data to justify rent increases, negotiate better cap rates, and understand which tenants are performing - and which might be at risk. If you're not tracking occupancy percentages yet, this episode will make you start.Key Insights:✔️ Occupancy percentage = rent as a % of tenant sales—track it, use it✔️ Use it to price rent, negotiate renewals, and spot underperforming tenants✔️ Some tenants can handle higher % than others (e.g. liquor vs. furniture)✔️ I use occupancy ratios to justify lower cap rates in refis/sales✔️ You can start learning by analyzing OM rent rolls & reported sales✔️ Most landlords ignore this - make it your edge
After years of stalled progress and out-of-state ownership, Mansfield’s long-troubled West Park Shopping Center is officially up for sale through a local broker. In this episode, we look at why city leaders are cautiously optimistic that this could be the first real step toward redevelopment, and what still stands in the way.Support the show: https://richlandsource.com/membersSee omnystudio.com/listener for privacy information.
Everyone talks about sales and rent, but what reports do top shopping center owners actually use to run their properties? In this episode, I share the five essential reports she relies on to manage everything from lease renewals to rent increases, refinancing, and even delinquencies.From sales performance to occupancy costs, rent rolls to renewal timelines - I break down how these reports help her stay ahead of tenant issues, maintain strong collections, and defend cap rates in a sale or refinance. If you're not reviewing these regularly, you might be flying blind.Key Insights:✔️ Sales reports help determine occupancy cost and support higher rents✔️ Rent rolls are the foundation—track options, increases, CAM, and more✔️ Expiration reports help plan ahead - but I prefer not to chase early renewals✔️ Delinquency reports on the 10th and 20th keep collections tight✔️ No grace periods - I hold even nationals accountable to paying on time
When your shopping center flyer says “great for retail, office, medical, AND entertainment,” it might sound impressive - but it's probably why you're not leasing any space. In this episode, I break down why throwing the kitchen sink into your marketing is killing your results, and how getting focused can completely change the game.She shares a real story from a property owner struggling to lease space in a low-traffic, low-population area, and how his “everything to everyone” approach was confusing prospects. I give specific, actionable advice on how to reposition your marketing, what to fix on your flyer, and how to leverage local leasing success to your advantage.Key Insights:✔️ A “for lease AND for sale” flyer sends the wrong message to tenants✔️ Don't market medical space if you have poor parking or low visibility✔️ Separate brochures for separate tenant types = more focused results✔️ Prospects don't want to figure it out—they want to feel like the space is for them✔️ Find out who leased nearby spaces and connect with their brokers
When you buy a shopping center, you inherit leases - but should you actually keep using them? In this episode, I share why continuing with outdated lease forms can cost you money, flexibility, and leverage. Whether you're dealing with 40-year-old language, missing continuous operation clauses, or outdated assignment fees, I explain what to look for and why having your own modern lease form is non-negotiable.I also share stories from her own deals, the kinds of clauses that have evolved over time (think CPI increases and relocation costs), and why hiring the right attorney could save you from years of legal and operational headaches. If you're inheriting leases or planning to buy a center, this episode will give you the lease-level clarity most landlords overlook.Key Insights:✔️ Never assume the lease you inherit is good enough—create your own lease form✔️ Outdated leases often lack key protections like continuous operation clauses✔️ Assignment fees, late fees, CPI language, guarantees—all need modern updates✔️ Hire a real commercial lease attorney, not a residential closing lawyer✔️ If tenants want to renew and don't have options, you set the lease terms
In this episode, we sit down with Cam Kenyon to explore The Bridge, a bold social enterprise by Revive Church in Arvada, Colorado. Cam shares how this 115,000-square-foot shopping center was transformed into a thriving hub for purpose-driven organizations with the purpose of fostering the peace and prosperity of the Northwest Denver Metro Area. By forging strategic partnerships and focusing on community impact, The Bridge seamlessly blends church ministry with real-world solutions, providing resources and services to give people a hand-up and out of poverty - financial, relational, and spiritual. To learn more, check out thebridgearvada.com/ Feast Over Famine does not provide legal, tax, accounting or other professional advice. You should consult professional advisors concerning the legal, tax, or accounting consequences of your activities. Feast Over Famine does not consult, advise, or assist with (i) the offer or sale of securities in any capital-raising transaction, or (ii) the direct or indirect promotion or maintenance of a market for any securities. Feast Over Famine does not engage in any activities for which an investment advisor's registration or license is required under the U.S. Investment Advisors Act of 1940, or under any other applicable federal or state law; or for which a “broker's” or “dealer's” registration or license is required under the U.S. Securities Exchange Act of 1934, or under any other applicable federal or state law.
Everyone talks about getting a great deal - but what if the deal isn't as good as it looks on paper? In this episode, I break down why understanding supply and demand is the most important factor in evaluating shopping centers. It's not just about low prices or big upside - it's about who's around to shop there and how much competition already exists.I share real stories from the field, including why she turned down a massive consulting fee for a center with no population, and how she advises landlords on raising rents the smart way. If you're investing in retail or managing tenant renewals, this episode will shift the way you think about value, rent, and long-term upside.Key Insights:✔️ Don't chase cheap square footage—chase strong demand✔️ Low occupancy in the neighborhood? That's your red flag✔️ The best negotiation weapon: sales data, not fear✔️ Tenants with no better options won't walk over a $5 rent hike✔️ High income or high population—just pick a lane and understand it✔️ You can't lease to people who don't exist—look at the map
Thinking about selling your shopping center? Before you list it, there are critical mistakes that could turn off buyers, delay your sale, or even lower your property's value. Many sellers unknowingly make choices that seem beneficial in the short term—like locking in long-term tenant rent increases—but these decisions can actually reduce flexibility for buyers and make your property less attractive.In this episode, I share what smart shopping center buyers look for when evaluating a deal, and what you should fix before listing your property. I break down why fixed rent increases in tenant options can work against you, how long-term vendor contracts can complicate negotiations, and why open permits can stall or kill a sale. Key Insights from This Episode:✔️ Why giving tenants long-term fixed rent increases can hurt your sale price✔️ The biggest contract mistake that can turn off serious buyers✔️ How open permits can delay or ruin your shopping center sale✔️ Why month-to-month leases could be a deal-breaker for some buyers✔️ The right way to prepare your property before listing it for salePlanning to sell your shopping center? Drop your questions in the comments!
Let us know what you think about the showThis week, we're heading to Coral Gables, Miami, to check out a 92,000-square-foot retail center in one of the most prime locations imaginable. Is it a gold mine or a money pit? Plus, Erik shares insights from his Southeast real estate tour, and we take a fun detour into Airbnb chaos and why some investors might regret their choices.
Owning a shopping center sounds great—until CAM reconciliation season hits. If you're feeling overwhelmed by surprise expenses, frustrated tenants, and unclear CAM charges, this episode is for you. I break down exactly how CAMRECs (Common Area Maintenance Reconciliations) work, why your tenants might be footing the bill for grocery stores and anchors, and how to protect your cash flow without shocking your tenants with massive invoices.Whether you're a new shopping center owner or just trying to get ahead of rising costs, Beth shares real strategies she's using right now to avoid $5,000+ surprises, handle tenant disputes, and keep her centers running profitably year after year.Key Insights:-Why local tenants often cover the costs anchors like grocery stores avoid-The three ways landlords handle CAM increases—and which works best-How to protect your cash flow and avoid massive CAM reconciliation bills-Why national tenants play games with CAM disputes (and how to handle them)-The overlooked mistake that can crush your shopping center's profits-How to use CAM estimates to smooth out costs and avoid blindsiding tenants-When to offer payment plans—and when to say no
Struggling to Lease? Top Tips on How Residential Agents Can Solve Your Commercial Vacancy ProblemAre you struggling to fill vacant spaces in your shopping center? I reveal a surprising leasing strategy you probably haven't tried—tapping into hungry residential brokers. Learn why commercial brokers might not always be your best bet, and discover how getting creative can fill those long-empty spaces faster. I share real-life insights on why hiring an eager residential broker could be the secret solution you've overlooked.Key Takeaways from this episode:- Why residential brokers can outperform commercial brokers for leasing your vacancies.- How to leverage hungry, motivated new agents to hustle and close deals quickly.- Practical tips on incentivizing brokers to fill your toughest vacancies.Have you tried using residential brokers before? Comment below and let us know your experience.
Nick Hodge is CEO of Essential Growth Properties. Nick shares insights from his extensive background in the supermarket industry and details Essential Growth's focus on acquiring, building, and operating grocery-anchored shopping centers nationwide. The discussion explores current investment opportunities in secondary and tertiary markets, the operational goals for Essential Growth, and the value of grocery-anchored centers in today's market. The conversation also touches on Nick's family history with Kroger, changes in the real estate industry over the past 15 years, and strategies for dealing with natural disasters. Naveen Jaggi is President of Retail Advisory Services at JLL. James Cook is the Director of Retail Research in the Americas for JLL. Subscribe: Apple Podcasts | Spotify Listen: WhereWeBuy.show Email: jamesd.cook@jll.com YouTube: http://everythingweknow.show/ Read more retail research here: http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.
While everyone else was avoiding retail real estate… The smartest operators were buying shopping centers at incredible prices and turning them into cash flow machines. Today I interviewed Manish Poushey, who has done exactly that… He built an incredible portfolio of retail properties in Phoenix by seeing value where others saw risk. In 2014, he bought a flex warehouse plaza for $750k that's now worth over $3M…and it's still producing 14-15% cap rates on triple net leases. Listen in as he shares how he continues finding these opportunities in today's market. Manish owns six liquor stores and multiple retail properties across Phoenix, all within a 30-40 mile radius of his house. In today's episode, we break down: How his warehouse plaza has quadrupled in value since 2014 Why he's getting $21,000/month in triple net rent on his shopping center The creative way he finances liquor store acquisitions with zero money down Why staying focused on one market beats nationwide expansion Plus, he explains why retail assets still offer incredible opportunities in 2024… If you want to learn how successful operators find value in any market… Tune in to the episode now. Take Control, Hunter Thompson Resources mentioned in the episode: Manish Pusheye Website LinkedIn Interested in learning how to take your capital raising game to the next level? Meet us at Capital Raiser's Edge. Learn more here: https://raisingcapital.com/cre