By Paul Bergeron
GlobeSt.com, Publish Date: October 2021
Case in point is Blackstone’s new investment in a portfolio of six Publix-anchored Sunbelt region shopping centers in a two-step deal.
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The Advantages of a Grocery Anchor
Matt Hammond, senior vice president & partner, Coreland Companies, tells GlobeSt, “Investors are really targeting this grocery-anchored asset class because it’s both experiential and necessity-based. While some big boxes have been hurt by online sales, grocery-anchored retail is thriving as the key destination for markets, pharmacies, restaurants and services.
“Additionally, these centers also benefit from inline and drive-thru pad spaces. Ultimately, they offer key opportunities to upgrade a tenant mix and create value.
The Sun Belt markets, just like Southern California’s Inland Empire, remain in demand,” Hammond said.
“With a partially remote workforce, these regions offer affordable, family-sized homes, not to mention great weather. Couple that with low mortgage rates and you get a migration of young families buying first homes, and a grocery-anchored sector in high demand.