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Despite the negative media coverage, both outdoor and enclosed shopping centers in vibrant markets are viable assets to invest in and are being offered at highly discounted prices. Although the proliferation of discount stores like TJ Max, Ross, and Nordstrom Rack, combined with the Amazon effect and Covid, have put a lot of retailers out of business, there are several retail survivors who are thriving. Some of these stores are expanding rapidly and have limited options of where to open because there’s been almost new construction of malls since 2008. This is creating high demand for space and benefitting neighborhood retail centers. Andy Weiner, President of Rockstep Capital, is investing in shopping centers in solid secondary and tertiary markets that are generating great returns for his investors.
