Description

Our November 11th episode features Steven Silverman, SVP of Investment Advisory Services at Friedman Real Estate, discussing retail auctions. Crexi's PRO Perspective series explores various aspects of the commercial real estate industry in conversation with some of its top CRE professionals. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crex's Bob Drury sits with Steven to discuss the current state of retail properties in auctions, how different properties are performing in auction settings generally, and how the shifting landscape of value in asset types and markets offers opportunities for discerning buyers. Some key takeaways include: - While assets such as hospitality, malls, and junior big-box properties will likely hit the auction block in 2021, plenty of buyer liquidity will be waiting to acquire these assets and take advantage of these opportunities. - Lenders are lending, and buyers are looking for retail assets, so activity is continuing in the retail auction space - far more so than following the 2008 market crash. - Interestingly, there are far more single-tenant retail assets on the auction market than multi-tenant properties. Many of these multi-tenant buildings are still generating income, with about 85% rent collection across the board and owners choosing to delay any sale decisions. - Some servicers are choosing to hit the market early with distressed assets in anticipation of attracting buyers to differentiate their properties from others as they appear on the auction market. - The rise of commercial real estate technology is connecting buyers with sellers in the auction sphere nationwide, offering more investment opportunities than were possible before this tech existed. Like this? Hop over to our blog to check out the latest CRE hot tips and insights: https://www.crexi.com/insights