Kimco Realty Corp has been on the long search for strip malls in New England and around the MetroWest area to invest in. There were scarce properties and there was strong competition stated David Bujnicki the vice president for investor relations communications. In April this year the global real estate closed on 24 properties in New England which consisted of $9million acquisitions of the WestMeadow plaza. Apparently, it seems there are tons of investors ready to buy retail properties in the New England area said the vice president of the CBRE which is a real estate firm that has facilitated two local strip centers.
They stated that the only thing that was holding them back from obtaining more was the scarce amount available.There are some strip centers that are on the top of the healthiest retail segments coming from the recession.
In 2014 the retail forecast by the national commercial real estate firm discovered that the big gains over the past have come from the community and strip centers.

Strip mall achievements so far this year in Massachusetts include:

• Worchester crossing which was anchored by Sam’s club and Walmart for $49 million
• Hannaford shopping and professional Centre located in Townsend by the real estate investment group for $6.25 million
• Speedway Plaza located in Westborough by RK centers went for $18.73 million
• Price chopper located in Cambridge street in Worchester went for $16million.

The supermarket-anchored strip center is the perfect standard for strip centers.Primary what is wanted is tenants that are willing to stay for longer periods. In all this the tenants are the key.The buyers simply want there to be tenants there ready to do as the acquisition is subject to the current leases. It is just a future cash flow which is what the whole goal of an investment is.Kimco and Bujnicki both say they are looking for strong but also credit-worthy tenants that have simple everyday names.

In evaluating the properties you need to focus on the core markets, the top statistical areas of the country. Look for properties with a decent development potential, household income and also consider the selling price.The Worchester crossing purchaser was labelled as a good addition to the portfolio of the company and a long term hold with a good place to put money. RK owns a price chopper property in Worchester, Bellingham, Marlborough, Hudson and the Blackstone Valley in Millbury.
It is noted that New England has a high barrier to admission and there are no shopping centers as there is in Florida. You can’t simply place them exactly where you want them.

Once improving has been done on the appearance and visual aspects on the shopping Centre the company then evaluates the impact on the sales then tries to add more tenants to the fact. Without tenants nothing can go ahead. If there are plenty of tenants looking and they are a good fit, they will be put in there.

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