#354 - Don Tepman (@StripMallGuy) - Strip Malls, Creating Value, Leasing Strategy, X/Twitter, Charlie Munger
The Fort
Insight into the Retail Market and Leasing Challenges
The retail market is thriving with a low vacancy rate nationally, especially in prime locations. However, the construction of new neighborhood centers has decreased, possibly due to high costs of building. Retail spaces are being repurposed into apartments due to the lack of new retail supply. Starbucks plans to open 3000 stores by 2030, raising the question of available space. Retail leasing is a challenging business with complexities such as language barriers, detailed leases, and environmental risks. Without proper understanding and expertise, individuals entering the retail market face high risks of losing equity. It is crucial to have leasing knowledge and operational skills to succeed in retail businesses, as it involves difficult negotiations and potential pitfalls that can harm investments significantly.
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