In this powerhouse episode, Matty A sits down with Andy Weiner — the Founder & President of RockStep Capital — to explore how he amassed over 10 million square feet of commercial retail real estate across 11 states. From a childhood immersed in his family’s 159-store clothing chain to mastering acquisitions in “Hometown America,” Andy breaks down how his strategic investments in secondary and tertiary markets are creating outsized returns while revitalizing communities.

He explains why retail is now a bullish asset class, how positive leverage is giving retail an edge over multifamily and industrial, and shares insights into RockStep’s culture built around their unique core values, the “Rock Steps.”

In This Episode, You’ll Learn:

(03:40) Andy’s origin story: From family retail business to real estate mogul
(05:02) Types of shopping centers RockStep acquires: neighborhood, power, enclosed malls
(07:56) Why retail has favorable supply/demand dynamics in 2025
(10:01) Positive vs. negative leverage in CRE deals
(13:27) What makes secondary & tertiary markets so investable
(20:38) RockStep’s strategy for buying distressed malls at 15–17% cap rates
(28:06) The origin and meaning behind RockStep’s company values
(42:19) Inside the Hometown America Fund: 8–9% pref, 18%+ IRR goals
(46:27) Thoughts on alternative investments in volatile times

Resources Mentioned:

RockStep Capital Website: http://rockstep.com
Connect with Andy on LinkedIn: https://www.linkedin.com/in/andy-weiner/
Shopping Center Academy on YouTube: http://www.youtube.com/@ShoppingCenterAcademy

Episode Sponsored By:

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