In a move very similar to the one Simon Property Group announced in late 2013, diversified REIT Vornado Realty Trust is looking into spinning off
its suburban strip centers into a separate company, reports the Wall Street Journal.
It now operates more than half of its restaurants in
suburban strip centers.
But who wants a basement location in
a suburban strip center?
Not exact matches
In sleepy Irving Park, with traditionally little retail, commercial or industrial activity,
strip shopping
centers are popping up on Addison Street as they did long ago on the north
suburban U.S. Hwy.
It looks at the tax production and value per acre of various geographies — downtowns, village
centers, shopping malls, main streets,
suburban strip corridors, and others, to demonstrate that when land consumption is considered, sustainable forms of development are often the best bet for the local tax base and revenue stream.
The most common types of property transactions referenced in the survey were multifamily, land, warehouse,
suburban office and retail
strip centers.
«Urban mixed - use properties and even
suburban mixed - use town
centers are among the most desirable property types because they are viewed as a more sustainable form of development than the retail - only
strip centers of the past.»
The Market Survey includes sales, rent, occupancy, and operating expense data, together with inferred overall cap rates and gross rent and effective gross income multipliers for seven core commercial property types including apartments; warehouses and distribution
centers; flex / R & D facilities; CBD and
suburban offices; and anchored neighborhood and community and unanchored
strip retail
centers.
The RealtyRates.com ™ quarterly Market Survey includes sales, rent, occupancy, and operating expense data, together with cap rates and gross rent and effective gross income multipliers for seven core property types including apartments; warehouses and distribution
centers, flex / R & D facilities; CBD and
suburban offices; and anchored neighborhood and community and unanchored
strip retail
centers.
Our agents cover the valley to bring you the best opportunities working in all facets of commercial real estate; from regional
suburban malls,
strip centers, discount superstores, restaurants, trendy boutiques, mixed use projects, industrial and office sales and leasing, and more.
The RealtyRates.com ™ quarterly Market Survey includes sales, rent, occupancy, and operating expense data, together with cap rates and gross rent and effective gross income multipliers for seven core commercial property types including apartments; warehouses and distribution
centers; flex / R & D facilities; CBD and
suburban offices; and anchored neighborhood and community and unanchored
strip retail
centers.
Even worse, the empty, semi-abandoned
strip malls could become
centers of
suburban blight.