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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.
42:31
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Quick takeaways
- Investing in seasoned, unanchored retail strip centers can lead to increased profitability due to below-market rents and tenant stability.
- The shift towards more diversified tenants, including local mom-and-pop businesses, highlights the changing dynamics and resilience of retail environments.
Deep dives
Opportunities in Strip Centers
There is significant potential in investing in unanchored retail strip centers, particularly those that are seasoned and not newly developed. These properties, typically 10 to 20 years old, often come with below-market rents and smaller tenant spaces, which lessen the impact of losing a single tenant. Investors are capitalizing on the opportunity to gradually increase rents, creating a pathway for increased profitability over time. This trend highlights the shift towards recognizing the inherent value in strip centers, especially those situated in high-traffic locations that ensure consistent customer access.
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