The Daily REIT Beat Newsletter’s Post

📅 #REIT Headlines -- January 22nd, 2025 📅 🛒 Armada Hoffler Columbus Village Retail Leases * Announced two significant new retail leases at Columbus Village in the Town Center of Virginia Beach * Executed a 14,000 sf lease with a prominent grocer and a 19,000 sf lease with a national sporting goods retailer 🏢 Brandywine Realty Trust Reports Strong Leasing Activity in 4Q 2024 * Executed 650,000 sf of leasing activity in 4Q * This is 18% higher than the same period in 2023 * Weighted average lease term for the quarter: 9.4 years * Total leasing activity for 2024: 2.2 million sf 🛍️ Phillips Edison & Company and Cohen & Steers Acquire Oak Grove Shoppes * Acquired 142,000 sf grocery-anchored shopping center in Orlando, FL * 91% leased with tenants including Publix, Marshalls, and more * Part of a joint venture targeting $300 million in equity * Ownership: 80% by CNSREIT, 20% by PECO 🌱 Vornado Realty Trust Achieves 100% LEED® Certification * First major real estate owner to achieve 100% LEED® certification across its portfolio * 24.8 million sf of in-service buildings now hold LEED Platinum or Gold ratings * Commitment to sustainability and environmental responsibility

“Over the last four years, we’ve focused on improving the tenant mix at Orbital, securing strong tenants like Aldi and driving consistent footfall growth. We’re pleased to sell to British Land, who have the experience and expertise to take the scheme forward.” – Toby Saul MRICS, Asset Management Director. We’re proud to announce the sale of Orbital Retail Park, Cannock, to British Land for £27.6m. This significant transaction marks the conclusion of four years of Clearbell’s active asset management, where we’ve worked to enhance tenant mix and boost footfall. Located near the M6 Toll and the popular West Midlands Designer Outlet, the 123,215 sq ft retail park is home to a diverse mix of national retailers, including M&S Foodhall, Boots, Aldi and Pure Gym. Recent lettings to Tapi and Flooring Superstore reflect growing demand, with rental values increasing from £17 to £20 psf under our ownership. We’re confident that British Land’s expertise will continue to drive the scheme forward, with plans already in motion for a flagship unit in the current Homebase store. You can read more about the launch of the sale here: https://bit.ly/4gqchs8 #CommercialProperty #AssetManagement #RetailParks

Yet another commercial real estate transaction completed in 2024, with Redevco confirming the acquisition of a 16-strong retail park portfolio from Oxford Properties Group for £518m. It’s a buoyant market! Redevco have explained that the transaction marks a significant milestone in its aim to build one of the largest retail park asset management platforms in Europe. Following the acquisition, the Amsterdam-based firm manages a gross asset value of around €5bn (~£4.1bn) across almost 200 retail park assets, predominantly in Belgium, Germany, Spain, and the UK. #Retail #Property #RealEstate

Approaching the End of a Retail Lease? Timing is Key! If you’re nearing the end of a Retail Lease in NSW, it’s essential to understand that timing is everything! Under Section 44 of the Retail Leases Act, landlords must notify tenants of their intentions 6-12 months before the lease expires (shorter leases have adjusted notice periods). Here’s what this means for you: 🔹 Option A: Offer a renewal or extension with clear terms. Your tenant will have at least one month to consider the offer before you can withdraw it. 🔹 Option B: Notify the tenant if you don’t intend to renew, which may lead them to vacate or stay on as a periodic tenant. Missing notice deadlines can lead to unintended lease extensions for up to six months, potentially disrupting your property plans and causing delays. 📞 Contact our office today to discuss how our experienced Asset Management Team can help you navigate these complexities and keep your property plans on track with ease! Joyce Elkouberci, Hannah Carney, Adrian Harb, Suzie Niu, Annika Ward, Callum McKay

🔥 Paragon REIT Shakes Up the Property Scene: The Rail Mall Sale Saga 📢 Attention property enthusiasts and investors! Paragon REIT is making waves with its advanced negotiations to sell The Rail Mall in Upper Bukit Timah for a price tag slightly above S$80 million. Brace yourselves for an exciting development! 🏪 The Rail Mall, a single-storey strip mall with nearly 50,000 square feet of net lettable area, is a prime asset situated on a 99-year leasehold site. With a balance of about 21 years and 9 months remaining, this property presents an enticing opportunity for the intending private investor. 💰 Valued at S$62 million as of December 31, 2023, The Rail Mall is a strategic investment, catering to the residents of Fuyong estate, Bukit Timah/Hillview areas, and visitors to the nearby Rail Corridor nature trail. Its prime location, well-served by the Hillview MRT station and public buses, adds to its allure. 🏆 With key tenants like Cold Storage supermarket and popular F&B outlets, The Rail Mall has proven its mettle as a thriving commercial hub. This sale could potentially unlock new possibilities and reshape the retail landscape in the area. 💡 As the negotiations progress, one can't help but wonder: What innovative plans does the private investor have in store for The Rail Mall? Will this acquisition breathe new life into the property, or will it maintain its current successful trajectory? Only time will tell, but one thing is certain – the property market is about to witness an exciting chapter unfold. #ParagonREIT #PropertyInvestment #CommercialRealEstate #SingaporeProperty #RealEstateNews 🗺️🏗️🏫🏪🏭🏬🏣🏢🏘️🏦 👋 I am Trevor Soon, 🏆 Top Real Estate Voice & Top 5% Realtor. 👨💼 Senior Leader Connecting Developers, Professionals & Investors for Growth. 💡 Empowering Real Estate Investment with Emotional Resilience. 🤝 Let's connect and explore how we can win together!

Retail REITs are raising their financial outlook for the remainder of 2024. Bisnow reports publicly traded REITs, including Simon Property Group (SPG), Kimco Realty Corporation (KIM), Brixmor Property Group (BRX), Regency Centers (REG), Federal Realty Investment Trust (FRT), and NNN REIT, Inc. (NNN), all raised their projected funds from operations (FFO) for the year. The grocery sector also continues to be a strong performer for retail REITs. Regency Centers, for instance, reported that six of its top signed but unopened leases are grocery stores. Kimco Realty also noted the ongoing ‘accelerating’ demand for grocery-anchored leases. #retail #reits #news #realestate #earnings

Yes: but only if the location is correct. Otherwise you can see aggressive closures.

Growth is good! ICSC CrossMarc Services Crossman Career Builders #crossmarc #crossmancareerbuilders

"MD Retail Center Purchased by Aggregate Real Estate Investors for $28M" Read the full article below..

Vicinity Centres (ASX: VCX) has exchanged unconditional contracts to divest 50 per cent stakes in three shopping centres, two in Sydney and one in Adelaide, for proceeds of $457 million, with the total sum representing a premium of more than 5 per cent to the properties' book values.  Vicinity struck a deal to sell half of its ful... https://lnkd.in/gaVdEeWZ