OAK BROOK, IL—As a REIT, locally based RPAI is focused on driving NOI growth via multiple paths throughout the portfolio management process. In past stories, EVP, COO and CIO Shane Garrison has explained that major tenets of that initiative are remerchandising and a focus not on the existing retail configuration, but on the underlying real estate. In this exclusive interview, he now takes us behind those concepts to explain how they work.
GlobeSt.com: How do you choose a prospective acquisition based on its potential for long-term value?
Shane Garrison: Obviously we start with the 10 markets we've identified as part of our long-term strategy, our core markets. The two most important considerations when looking at an acquisition are existing sales and underlying real estate quality. We want to feel strongly about the existing sales, and really understand what drives the site long term. [Editor's Note: Those markets are Seattle; Phoenix; Dallas; Austin; Houston; San Antonio; Chicago; Atlanta; Washington DC/Baltimore; and New York City.]
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
