NewQuest’s Post

"Region’s deal for Cooleman Court was struck at slightly above the mall’s December 31 book value of $73 million but incorporates the expected valuation gain from the expansion of the Woolworths supermarket within the centre, which is due to be completed by Christmas. The mall had a peak value of $76.5 million at the end of December 2021. Known by locals as “Coolo”, the 10,469 sq m neighbourhood mall in Weston, 12.5 km south-west of the Canberra CBD, is anchored by Woolworths and Aldi supermarkets, and includes a Reject Shop, Best & Less and 33 specialty tenants. Region Group acquired Cooleman Court on an initial yield of 5.5 per cent, but with the potential to lift that return to 5.8 per cent through leasing vacant space in the mall. Region’s portfolio trades on an average cap rate of just over 6 per cent." Read more here: https://lnkd.in/gM6F2GzS

Deal activity is picking up at the top end of the retail property sector (little scoop from me below), and with the middle and bottom also firing, looks to me like there is plenty of momentum in malls and shops despite economic challenges #retail #property #shops #malls

Investors continue to seek bricks-and-mortar assets leased to essential services tenants, with Fitzroys selling circa $15 million worth of supermarkets in just a few weeks. Fitzroys Chris Kombi and Ervin Niyaz Omerspahic have just sold the strata titled ALDI Stores Australia supermarket in Gladstone Park Shopping Centre on a 6% yield. That comes as Chris James and Tom Fisher have sold the Albert Park Village home of independent supermarket Gum Tree Good Food, at 87-89 Dundas Place, for $4.9 million, on a high building rate of $14,000 per sqm. They have also just sold the Gum Tree Good Food premises at 422 New Street, Brighton on a 5.2% net yield, in an off-market deal. https://lnkd.in/givygCJT Chris Kombi Ervin Niyaz Omerspahic Chris James #retail #retailproperties #bricksandmortarassets #stratatitledproperties #propertymarkets

Woolworths Shopping Centre Bellarine Peninsula sold to first time Chinese investor - Stonebridge Property Group Stonebridge Property Group exclusively transacted Woolworths Curlewis Shopping Centre sold for just over $20,000,000 to a first-time investor by Justin Dowers and Kevin Tong off-market with the purchaser being sourced by Stonebridge’s Asia Practice divison. Kevin Tong commented “Our Stonebridge Asia Practice team spend a lot of resources into educating the this sector of the market, and it is through our marketing channels that have helped source a lot this capital current back in the retail investment market The eventual purchaser was a first time investor who was ultimately attracted to the Woolworths covenant, despite being in a regional location. This sale follows a run of recent sales the Stonebridge team have done to Asian buyers since May 2024, and we only expect this to keep going.” Justin Dowers commented “The average yields for neighbourhood centres in FY25 so far is 5.90% which is below the current cost of debt. “We are seeing buyers continue to be attracted to the non-discretionary nature of these assets, which are commanding a premium.” Following the sale of Woolworths Curlewis, the Stonebridge team of Justin Dowers and Philip Gartland will be bringing to market a neighbourhood centre with a similar composition in Western Australia. Further details of this opportunity are available upon request. Read more on COMMO > https://lnkd.in/gm_Mm_vs RETalk Asia The ASEAN Developer Ashleigh James Julian White Rorey James Nic Hage Carl Molony Max Warren Tim Andrews Tom Moreland Lucas Duffy Thomas Proberts Dylan Kilner Kelsey Hermsen Steve James Shawn Luo Lucas Gentile Stacey Heathwood Kathleen Hayes #stonebridge #shoppingcentre #retailrealestate #retailinvestment #retailproperty #retaildevelopment #retailnews #melbre #retail

JLL in conjunction with Stonebridge is pleased to announce the sale of Willows Shopping Centre. The transaction follows a formal off-market campaign that received strong national investor interest, resulting in the largest retail transaction to occur year-to-date in Queensland. Willows Shopping Centre is the one of the top performing shopping centres in Townsville and the only triple-supermarket anchored centre in Northern Queensland, comprising over 44,500sqm and generating approximately $360 million in Moving Annual Turnover. The centre is anchored by major tenants Coles, Woolworths, Big W, alongside Townsville’s very first ALDI, and further supported by other national operators including Rebel, TK Maxx, JB-Hi-Fi and 107 specialty shops. The sale included a separate 4.42ha development site positioned in proximity to the centre. #AustralianRetailProperty #CommercialRealEstate #CRE #RetailInvestment #CapitalMarkets #ShoppingCentre #ShoppingCentreInvestment #PropertyInvestment #InvestmentProperty #RetailAssets #CommercialProperty #AustralianCRE #RealEstateFinance #RetailPortfolio #PropertyDevelopment #InvestmentOpportunity #RetailStrategy #AssetManagement #PropertyMarket #RealEstateInvestor #RetailTrends #AustralianEconomy #MarketAnalysis

Crump Marketplace For Sale | Winn Dixie Grocery Anchored Shopping Center | Jasper, AL | Winn-Dixie accounts for 64% of the total current rental income | he center is currently 91% leased | Opportunity for immediate upside | 6,300 SF (3 units) of the investment is currently vacant, leaving an investor with the opportunity to immediately lease up the spaces and increase the NOI of that asset | Recent lease extensions | Winn-Dixie, Aaron’s, Drayer Physical Therapy, ALFA Insurance, Advance America, and onemain Financial recently extended their leases | Cheap rents | The investment is averaging about $9.20/SF in rent | Long-term operating history | Winn-Dixie has been at this location for over 27 years Excellent access and visibility from Highway 78 (aka State Route 5) and Viking Drive | Combined ±66,500 VPD | Winn-Dixie was recently acquired by ALDI https://lnkd.in/g8XWPrTK

LeadCrest adds two retail warehouses in Italy to portfolio

"Dollar General Anchored Retail Trades in 1031 Exchange: A Comprehensive Guide" Read the full article below..

1H2024 Interim Results: Retail Portfolio overview (R10,4 billion asset value) Despite a higher interest rate environment and the prevailing challenging trading landscape, tenants within the Fortress retail portfolio have continued to show resilience, achieving turnover growth of 6,9% during the 12 months to December 2023, compared to the corresponding prior period on a like-for-like basis. The reduced prevalence of load shedding during the December festive season played a key role in increased tenant turnover. A large component of our retail portfolio has exposure to tenants trading in essential goods. With consumer preferences shifting towards this category, grocery and supermarket retailers experienced increased demand, which contributed significantly to our overall performance. Strong turnover growth was also observed in the pharmaceutical and liquor categories.   The retail portfolio vacancy, based on GLA, decreased to 2,0% at 31 December 2023 from 2,3% at 30 June 2023. The portfolio experienced marginally positive rental reversions of 0,2%.   The extension and refurbishment of AbaQulusi Plaza (formerly Vryheid Plaza) was completed and the centre is trading in line with expectations. New tenants at this centre, which opened during 1H2024, include Shoprite, Clicks, Sportscene, Studio 88, Jet and Markham, which enhance the retail offering.   #Retail #InterimResults

The sale of Channel Court represents the largest single asset retail sale in Tasmania ever recorded. Channel Court, anchored by a full line Woolworths & BIG W is the largest and only Sub-Regional centre south of Hobart CBD comprising over 25,000 sqm and generating over $150 million in Moving Annual Turnover. The Channel Court transaction was exclusively brokered by Nick Willis and Sam Hatcher from JLL following a formal Expressions of Interest campaign. Nathan Lin, Senior Analyst JLL Retail Investments said “Channel Court presented a unique offering to the market, supported by macro-fundamentals, investors were further attracted to the relatively low average rents, some 43% below the benchmark." https://lnkd.in/gWmr6QHn #JLL #RetailInvestment #ChannelCourtSale #TasmaniaRealEstate #RetailMarket