ATLANTA—Transition is a key word in retail commercial real estate investing. GlobeSt.com caught up with Franklin Street director Reid Mason and senior director Bryan Belk to discuss these issues in part three of our exclusive interview series. You can still read parts one, two and three: Insight: When Big Boxes Become Smaller Boxes, Why Some Retailers Are Thriving Despite the Amazon Effect, and These Retail Trends Are Rapidly Rising.

GlobeSt.com: In this time of transitioning in retail, where are commercial real estate investors looking for deals?

Belk: We're seeing investors looking for buying opportunities that will have a retailer with a below-market rent potentially going out, so they can re-lease the property to a new tenant at a much higher rate. Let's say you have a Kmart or Toys “R” Us that is going out business. If it's a good location, they might be able to backfill it with a retailer such as Dick's Sporting Goods, TJ Maxx, or Marshall's and increase the tenant profile there.