Specialist Who Supervises 360 Southeast U.S. Residence Sees Demand From Non-Traditional Retail Tenants
Alex Munoz, managing director with Atlanta-based retail real estate company, The Shopping mall Group.Courtesy: The Shopping Mall Group.On the eve
of the International Council of Shopping Centers’ Florida conference, a specialist who supervises 360 homes in the Southeast U.S. says he’s bullish on retail, thanks to the wave of non-retailers filling shopping mall.
Alex Munoz of The Shopping Center Group stated he’s seeing more non-retail tenants leasing retail areas, which’s assisting enhance markets across the Southeast. “Non-traditional uses are becoming a vital part of retail and are inhabiting increasingly more space,” Munoz told CoStar News.
The growing popularity of “severe regional renters” with a couple of locations also is assisting fill retail areas, in addition to startup sellers, Munoz stated.
“I’m quite bullish on the Southeast right now,” said Munoz, whose group of 25 experts represents retail center owners in marketing and renting their residential or commercial properties. “We’re seeing extremely strong demand for well-located real estate.”
Munoz, a retail veteran based in Charlotte, North Carolina, was promoted recently to handling director of The Shopping Center Group, an Atlanta-based services firm that focuses exclusively on retail property. In his new position, Munoz supervises The Shopping Center Group’s 8 offices in Florida, Georgia, South Carolina and North Carolina. The portfolio consists of 34 million square feet of retail in 360 residential or commercial properties.
One of his first assignments will be to attend next week’s ICSC Florida Conference & & Deal Making event in Orlando. While there, Munoz stated he will focus on company development, consult with existing clients and display the company’s readily available properties. “The conference is essential to us” due to the fact that The Shopping Center Group has four offices and several customers in Florida.
In his 17 years in retail, Munoz has seen many patterns, including the effect technology and e-commerce are having on shopping centers and those who own them. As internet sellers and startup companies look for physical areas, property managers are becoming more versatile in their monetary requirements and lease terms, he stated.
Landlords also are welcoming non-retail tenants such as healthcare facilities, urgent-care centers, storage business, religious outfits and instructional outlets to fill spaces in their centers, Munoz stated. “It’s all about these non- conventional tenants making it easier [for clients and consumers] to access their services,” he said.
One week into his new role, Munoz stated he leans on characteristics he got from one of his very first jobs as an instructor with Miami-Dade County Public Schools. “As an instructor I discovered the requirement for persistence, strong communication skills and strong planning,” and the very same uses in retail,” he stated.