Some firms tend to rely on tried-and-true methods, but Mall Properties Inc. (MPI) encourages creativity from its staff, COO Michael A. Makinen says. “[We encourage] pushing the envelope and challenging ourselves to look for unique solutions and opportunities to create value in our properties,” he declares.
For instance, the New York City-based real estate firm is looking at ways it can take the best practices of its hotel, office and residential teams and apply them to its retail division, Makinen says. As it brings together the four teams, “We’re cross-referencing their strengths,” he says.
Read more: Mall Properties Inc.
The human male can be a fickle beast when it comes to clothes shopping. We realize we want to dress well and come off as presentable, but we often find ourselves at a loss as to how to make that happen. When clothes shopping is any less convenient than a quick stop at the store at the corner, it won’t be worth our effort. And if our definition of fashion isn’t reasonably priced, off to the nearby discount big-box retailer we go.
Read more: JoS. A. Bank Clothiers
The days of the general store may be gone, but its spirit lives on through retailers like Florida-based Bealls Outlet, which was founded to focus on smaller markets than those typically served by large department stores. Started in 1915 as a five-and-dime in Florida, today the company has more than 460 stores in 17 states, and President Dave Alves says it has its sights set on even bigger and better things. Although Bealls Outlet is undergoing a transformation of sorts, Alves says the chain will remain focused on its core concept of a convenient and welcoming store where everyone can find the styles and brands they want, all at lower prices.
Read more: Bealls
New England is beset with small one-way streets, curvy roads that switch names mid-curve, and traffic jams that put even the worst in Los Angeles to shame. But it’s also full of potential for investors looking to best such challenges with unique retail solutions. Such is the case with Linear Retail Properties. Bill Beckeman, president and CEO, established the company in 2003 with a mission to be an aggregator of smaller, well-located convenience-oriented retail properties in the New England and Greater Boston area. Beckeman said institutional investors typically don’t find great success in buying significant amounts of retail space in New England, mostly because the region doesn’t look like other parts of the country. So he founded Linear Retail Properties with a focus on the region’s distinct profile.
Read more: Linear Retail Properties
Thirty days after buying Port America, a mile-long waterfront property along the Potomac River in Prince George’s County, Md., Steven Peterson’s father, Milton, turned to him and said, “Now what do you want to do?” Now the president of The Peterson Companies and in control of the multi-billion-dollar property known as National Harbor, Peterson’s initial response was, “I don’t know.”
Read more: Peterson Companies
This real estate investment trust takes a slow-and-steady approach to tackling its market to ensure its shareholders see positive returns. In the late 1980s, the board of Connecticut-based Urstadt Biddle Properties put core principles in place to guide the trust’s operations. The first was that the real estate investment trust (REIT) invest in one property type, which is the grocery-anchored shopping center. The second was that the REIT invests in one market, which is the New York suburban area. For the past 20-plus years, Urstadt Biddle has continued to define its portfolio using both of those principles.
Read more: Urstadt Biddle Properties
This real estate investment company uses experience, technology, and a hands-on approach to bring success to the properties in its portfolio. What began as an operating company focused on Los Angeles apartment real estate in the 1970s has evolved into a private real estate investment company with 105 retail properties in 23 metropolitan markets across 15 states. Westwood Financial’s evolution, said EVP Randy Banchik, stems from a series of events in Los Angeles that caused the company to shift its portfolio from apartments into smaller, convenience-oriented shopping centers in the early ’80s.
Read more: Westwood Financial
From retailer to real estate developer to asset manager, this family-owned company continues to grow and succeed due to its colorful history. It’s not often you find a family-owned real estate developer and landlord with a history in retail. But that’s exactly where New Jersey-based Bedrin Organization first planted its seeds. Garret Bedrin’s grandfather, Murray Bedrin, founded the company when he opened a small stationary and office supply company in the Jersey City/Rutherford area of the state. His two sons, Paul and Jerry, joined the business in ’69 and ’72, respectively. Initially called Allied Office Supplies, the company grew into one of the largest privately owned office products companies in the country.
Read more: Bedrin Organization
Page 2 of 3