FILLING UP RETAIL BIG BOX VACANCIES; AN INTERVIEW WITH ROSS COOPER OF KIMCO REALTY
Ross Cooper, President and Chief Investment Officer of Kimco Realty, a major North American REIT, sits down with me to discuss how Kimco plans to deal with big box vacancies.
At the time of this interview, according to Ross, Kimco was “north of ninety-eight percent leased on their anchor stores. Ross points out the continuing trend to add off-price retailers and specialty grocers as well as a new trend of fitness in shopping centers. They are also considering redevelopment with multi-family, office and hotel, in the appropriate cases.
During our conversation, I voiced my, perhaps, old-school, bias against adding health clubs to shopping centers due to complications, from parking issues. Ross, on the other hand, disagreed with me, indicating that grocers are becoming a lot less restrictive on health clubs. I just love to hear fresh, new ideas and Ross, clearly brings them to the table. It’s all about getting the customer to the center.
Howard F. Kline is a Nevada licensed real estate advisor with SVN The Equity Group, located in Las Vegas Nevada. He has also been a licensed California attorney for over 42 years, primarily focused on commercial real estate and has been a licensed California broker and a licensed New York real estate agent. He is also the founder and host of CRE Radio & TV, an online commercial real estate magazine since 2010 and recently founded the Las Vegas Business Journal, an online, media rich, interactive business magazine. For more information, contact Howard at 702.706.4433 or at email@example.com