Site Centers' recent decision to spin off its convenience assets into a separate REIT was telling in many ways, including the strength of the REIT's remaining assets, which are primarily strip malls.
Now we have further confirmation of strip malls' growing dominance in the retail space from Brixmor Property Group CEO James Taylor, who spoke with CNBC about his company's recent earnings performance. His main point: open-air retail in many cases is outperforming traditional, outdoor malls.
Taylor has found what he called a strong formula for a mix of retailers, such as centers anchored by grocery stores complemented by stores that serve their customers' everyday uses such as quick-service restaurants, coffee, and discount, off-price retailers.
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