Notwithstanding jitters over Amazon's acquisition of Whole Foods among grocery stores, investors are still chomping at the bit for grocery-anchored strip centers while they flee traditional retail centers. Green Street Research said in a recent report that grocery-anchored shopping centers are priced to deliver superior private-market returns compared to “power centers.”
But wait a minute, this morning the Wall Street Journal reported that grocers have been hit by a glut of retail space. If we peel back the onion (that's grocery talk) we find that developers have produced 4.15 square feet per capita of retail food space according to Co-Star, which is 30 times the amount of space allocated 30 years ago. Wal-Mart, Target and other mega stores have also piled-on grocery offerings while consumers are shifting shopping and eating habits, moving closer to a snack culture.
The net net is that all the hub-bub over grocery-anchored centers being a safe haven in the midst of the retail carnage doesn't quite add up.
Job Listings
PACOLET MILLIKEN ENTERPRISES
Construction Manager
(GREENVILLE, SC) Duties include conducting inspections of existing properties prior to closing, using outside engineering firms and in-house construction review; and managing inspection process and work closely with the acquisitions team to identify capital needs and develop budgets.
KORN/FERRY INTERNATIONAL
CCIM Chief Executive Officer & Executive Vice President
(CHICAGO, IL) Position will strengthen the role, visibility and benefit of membership and volunteer involvement within CCIM; provide frequent and friendly accessibility and opportunity for the personal communication to individual members of the organization; and oversee identification, cultivation, and recruitment of new members to CCIM.
STARWOOD CAPITAL GROUP
Senior Associate/Vice President, Multifamily Asset Management
(SAN FRANCISCO, CA) Newly created Asset Management position, based in the San Francisco office, will enjoy a high degree of visibility with the local SCG executive management team. Position will offer candidates the opportunity to assume full responsibility for the Western Region multifamily portfolio, which includes approximately 20,000 apartment units (primarily in Seattle, Portland and Denver).
CROSS STREET PARTNERS
Vice President of Real Estate Management
(BALTIMORE, MD) Duties include articulating to members a strategic plan for each asset under management; and coordinating the efforts of the other team members, including property management, construction, development, engineering, and marketing.
LOWE ENTERPRISES
Assistant Vice President – Construction Manager
(LOS ANGELES, CA) Duties include commercial office, retail, multi-family residential and hotel development. Responsibilities include regular coordination with the general contractor, various consultants, approval entities, utilities, and reporting to both internal and external parties.
JONES LANG LASALLE
Global Finance Director
(WESTMONT, IL) Director will maintain financial and work management systems with a high degree of data integrity; and manage financial reporting process (globally), coordinating budget development, month end close, financial analysis and benchmarking, and communication of process to client and management team.
NEWMARK GRUBB KNIGHT FRANK
Senior Financial Analyst
(EL SEGUNDO, CA) Position will conduct financial analysis and underwriting of commercial real estate properties; review due diligence; and abstract leases, review operating statements/budgets, analyze cam reconciliations, etc.
CHOICE HOTELS INTERNATIONAL
Sr. Analyst, Real Estate Investment
(ROCKVILLE, MD) Senior analyst will be involved in all phases of the real estate life cycle: capital structuring, underwriting, internal approvals, documentation, deployment, asset management, capital recycling, and workouts.
Notwithstanding jitters over Amazon's acquisition of Whole Foods among grocery stores, investors are still chomping at the bit for grocery-anchored strip centers while they flee traditional retail centers. Green Street Research said in a recent report that grocery-anchored shopping centers are priced to deliver superior private-market returns compared to “power centers.”
But wait a minute, this morning the Wall Street Journal reported that grocers have been hit by a glut of retail space. If we peel back the onion (that's grocery talk) we find that developers have produced 4.15 square feet per capita of retail food space according to Co-Star, which is 30 times the amount of space allocated 30 years ago.
The net net is that all the hub-bub over grocery-anchored centers being a safe haven in the midst of the retail carnage doesn't quite add up.
Job Listings
PACOLET MILLIKEN ENTERPRISES
Construction Manager
(GREENVILLE, SC) Duties include conducting inspections of existing properties prior to closing, using outside engineering firms and in-house construction review; and managing inspection process and work closely with the acquisitions team to identify capital needs and develop budgets.
CCIM Chief Executive Officer & Executive Vice President
(CHICAGO, IL) Position will strengthen the role, visibility and benefit of membership and volunteer involvement within CCIM; provide frequent and friendly accessibility and opportunity for the personal communication to individual members of the organization; and oversee identification, cultivation, and recruitment of new members to CCIM.
STARWOOD CAPITAL GROUP
Senior Associate/Vice President, Multifamily Asset Management
(SAN FRANCISCO, CA) Newly created Asset Management position, based in the San Francisco office, will enjoy a high degree of visibility with the local SCG executive management team. Position will offer candidates the opportunity to assume full responsibility for the Western Region multifamily portfolio, which includes approximately 20,000 apartment units (primarily in Seattle, Portland and Denver).
CROSS STREET PARTNERS
Vice President of Real Estate Management
(BALTIMORE, MD) Duties include articulating to members a strategic plan for each asset under management; and coordinating the efforts of the other team members, including property management, construction, development, engineering, and marketing.
LOWE ENTERPRISES
Assistant Vice President – Construction Manager
(LOS ANGELES, CA) Duties include commercial office, retail, multi-family residential and hotel development. Responsibilities include regular coordination with the general contractor, various consultants, approval entities, utilities, and reporting to both internal and external parties.
Global Finance Director
(WESTMONT, IL) Director will maintain financial and work management systems with a high degree of data integrity; and manage financial reporting process (globally), coordinating budget development, month end close, financial analysis and benchmarking, and communication of process to client and management team.
NEWMARK GRUBB KNIGHT FRANK
Senior Financial Analyst
(EL SEGUNDO, CA) Position will conduct financial analysis and underwriting of commercial real estate properties; review due diligence; and abstract leases, review operating statements/budgets, analyze cam reconciliations, etc.
CHOICE HOTELS INTERNATIONAL
Sr. Analyst, Real Estate Investment
(ROCKVILLE, MD) Senior analyst will be involved in all phases of the real estate life cycle: capital structuring, underwriting, internal approvals, documentation, deployment, asset management, capital recycling, and workouts.
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Anthony J. LoPinto
Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.
