James Taylor, Jr., president and CEO of Brixmor Property Group Inc. (NYSE: BRX), joined Nareit for a video interview at REITworld 2017.
Brixmor owns and operates a portfolio of open-air shopping centers, with approximately 500 properties located across 38 states.
Taylor said he expects Brixmor’s active pace of dispositions to continue.
“We’re finding a very strong private market bid for assets of our type, community neighborhood-anchored centers. They are generally smaller in size and attract a pretty wide range of buyers who are looking to get exposure to retail,” Taylor said.
Meanwhile, Taylor noted that redevelopment is one of Brixmor’s primary avenues for growth. The company is “making our centers better and more relevant to the community and positioning them for long-term growth,” he said.
Specialty grocers, fitness centers, restaurants—particularly quick-serve concepts—and health and wellness retailers are among the most active drivers of traffic to Brixmor’s centers, Taylor said.