3rd Quarter 2012 marked the best quarter in Strategic Retail Group company history – roughly 21 quarters worth of scalable data dating back to 2007. Not only was transactional volume, defined as number of deals executed, at its highest level, but also aggregate square footage leased was at its highest level. Tenant incentives are slowly going away, temporary deals are decreasing, and company tenant clients like Massage Envy, Einstein’s Bagels, Drybar, Sportsman’s Warehouse, Barro’s Pizza, Alliance Urgent Care and Party City are active and executing transactions for new locations in the Phoenix Metro area.
All of the fundamentals, including increased retail sales and improving holiday sales expectations, are pointing towards a comeback that will dramatically help shopping center owners valley wide. November’s election could impact this Phoenix retail rally, but we believe that Arizona’s retail recovery is here and we expect it to continue into 2013. With the overall number of retail listings, broad geographic areas represented and diverse retail shopping center types currently listed at Strategic we feel strongly that this increase in activity is a valid indicator for the overall market.
Total Deals Completed Comparison*
- 1st Qtr 2012 – up 38%
- 2nd Qtr 2012 – up 50%
- 3rd Qtr 2012 – up 65%
*Year over Year
Overall deal volume up 50% through 3 quarters of 2012 compared to first 3 quarters of 2011.
Since Strategic was founded in Dec 2006, three of the four best quarters ever recorded by our firm were in 2012.
In addition to the strong improvement in project leasing activity we have also completed numerous big box retail transactions recently:
- Mega Furniture – Priest & Elliot – 25,760 SF
- Steinmart – Bell & Grand – 28,017 SF
- Goodwill – Scottsdale & Thunderbird – 35,000 SF
- DSW – 99th Avenue & McDowell – 20,000 SF
- Tuesday Morning – Oro Valley – 8,000 SF
- Sleep America – 19th Ave & Bethany – 8,630 SF
- Party City – Tempe Square- 29,000 SF
- Dollar General – 10,000 SF Build to Suit
For Additional Information on Strategic:
Jason Fessinger – Partner
602.778.3833 or firstname.lastname@example.org