The Palomar Group has brokered the $1.7 million sale of Delchamps Plaza, an 18,870-square-foot retail center in Columbus. The buyer was an undisclosed regional shopping center owner, and the seller was an investment group based in NY.
Aldi, a discount grocer based in Essen, Germany, is continuing its nationwide expansion with 100 new stores to open this year. The grocer plans to grow its footprint in select markets in Arizona, California, Florida and the Northeast U.S. Aldi also plans to add curbside pickup service to 500 additional stores this year.
As of Dec. 31st, 2020 publicly traded U.S. equity REITs posted a one-year average dividend yield of 3.6 percent. The retail enclosed mall REIT sector recorded the highest one-year average dividend yield among the group, at 8.7 percent, outperforming the broader SNL U.S. REIT Equity Index by 5.08 percentage points.
Retail sales in 2021 will increase to a record $4.26 trillion, up 8.1% year-over-year, which is the highest this century. That’s according to Customer Growth Partners’ 2021 annual forecast, which noted that the growth was on top of 2020’s robust — “and widely unexpected” — year-over-year growth of 7.1%.
80% of respondents said they had never done a sale-leaseback transaction, despite the fact that 40% have mortgaged debt on their real estate holdings. Sale-leasebacks are continuing their meteoric rise in the M&A world, and private equity firms that aren’t yet taking advantage of these arrangements “could be leaving money on the table.”
“While the widely held – and mistaken – contention is that the fate of all retail is doomed, prevailing leasing activity demonstrates that many retailers are committing to new space, all as they seek to optimize their space needs and channel mixes,” said Abby Corbett.
Landlords for open-air retail shopping centers, many anchored by major grocery stores, announced strong leasing momentum and proceeded with rolling out new development plans despite ending the year with slimmer wallets.