| Investors are once again vying for OC and SoCal retail, and it looks like the little guys may have the upper hand. (Everybody loves an underdog story.) The darkest days of the recession are over, and some consumer confidence—at least, local consumer confidence— has returned. |
| Hanley Investment Group prez Edward Hanley, here with his son fishing in Alaska, tells us institutional players tend to focus on the larger, national credit tenant-anchored shopping centers—such risk aversion may be a hangover from those dark days. Individuals and some foreign investors are a bit more bold, focusing on smaller, single tenant and strip shopping center product. (The fish refused repeated inquiries for comment.) |
| Who among them has the advantage in reeling in the best deals? The individuals and foreign investors do, since there’s a greater supply of the smaller product, Edward says. When he isn't catching enormous fish, he repped an unnamed buyer in a $34.8M acquisition of entity that owned the 44.2k SF grocery-anchored Landing in Newport Beach, which was sold by Catellus. |
In Retail, Think Small
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Edward Hanley, Hanley Investment Group
