The Source of Commercial Real Estate 20+ Years of Experience Brokering Un-Anchored Retail Strips with Jeff Enck
Mar 25, 2025
Jeff Enck, Senior Vice President at Matthews Real Estate Investment Services, boasts over 20 years of expertise in unanchored retail strips. He explores the changing retail landscape, emphasizing the resilience of local businesses and their adaptability to market shifts. Enck discusses the appeal of integrating medical services into retail strips, attracting varied customers. He also highlights the renewed focus on small tenants by institutional buyers and shares insights on navigating off-market deals, stressing the importance of industry relationships for successful transactions.
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Evolution of Unanchored Retail
- Unanchored retail has evolved, with rents increasing from $10-15 per square foot to $200-400.
- Medical and service-oriented tenants are becoming more prevalent, filling spaces vacated by weaker concepts.
Retail Occupancy and Strip Centers
- Despite media reports of struggling retailers, overall retail occupancy remains high at 94-95%.
- Unanchored retail strips, or "essential service retail," are thriving due to their service-oriented, Amazon-proof nature.
Attractiveness of Unanchored Strips
- Unanchored strip centers don't need a major anchor tenant to drive traffic.
- Strong real estate fundamentals, such as good visibility, access, and location, attract customers.