Daily-needs retail is still dominating retail investment activity, but it isn't exclusive to grocery and pharmacy neighborhood centers. Banks also fit the daily needs bill, but they require a slightly different strategy. Still, demand for bank-anchored shopping centers is increasing. We sat down with Kyle Gulock, managing director of the bank property group at Charles Dunn Co., for an exclusive interview about bank real estate investment.
GlobeSt.com: Daily-needs retail is dominating the retail investment market. Do banks typically fall into this category? What is investor demand like?
Kyle Gulock: Yes, financial institution services certainly can fall into the daily needs category. Although space utilization is ever changing in banks, the customers continue to walk through the bricks-and-mortar doors for a variety of reasons. Another aspect includes the presence and flag recognition of the brand in the financial industry, which points to the necessity of a bricks-and-mortar presence.
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