James Taylor, Jr., CEO of Brixmor Property Group Inc. (NYSE: BRX), sat down for a video interview during Nareit’s REITworld: 2024 Annual Conference in Las Vegas, Nevada on Nov. 18-21.
Taylor noted that fundamentals are strong, with minimal new supply in open-air retail spaces for several years, while demand from retailers remains robust. This combination of limited supply and strong demand has created a favorable environment for Brixmor and other property owners in the open-air space.
Taylor also addressed the importance of tenant disruption as an opportunity to add value. He explained that by replacing struggling tenants with better-performing ones, Brixmor can attract higher-paying tenants, increase traffic to shopping centers, and ultimately drive greater value for the company.
Turning to Brixmor’s activity in acquisitions and dispositions, Taylor said the company has become much more active in the market. With a focus on improving its portfolio, Brixmor is leveraging its expertise in leasing, redevelopment, and operations to enhance its properties. Currently, the company has $200 million to $300 million in assets under control, with plans for significant growth in the coming quarters.