Acadia Realty Trust, a publicly traded REIT which invests in shopping centers and street retail is seeing positive returns for investors. Their street retail market rents and tenant health are performing better than they did pre COVID. Their portfolio includes street retail in major cities such as New York, Chicago, Los Angeles and Washington D.C. Representatives from Acadia say they are very optimistic for what they will see over the next few years since the rebound from COVID is still in the beginning stages.
In addition, Regal Ventures, an investment management firm, is also optimistic about its retail portfolio and strategy. They recently purchased a $35.25 million portion of the Prudential Financial center in New York City. Their strategy is based on multi-tenant properties with non-discretionary and experiential retail tenants. “It’s hard to know whether any given clothing brand will be around in a few years’ time, but I do know that you and I will want to go out and eat with our families, grab a coffee on the way to work, stop by for a sandwich at lunch. And when that’s coupled with the foot traffic you find in urban areas, that for us is a perfect asset,” stated Sean Dainese, managing partner of the firm.
It is great to see optimism in these markets and learn about the investment strategies achieving promising results.
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