Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/853369
38 S C T / A U G U S T 2 0 1 7 Mountain. In March Gander Mountain filed for bankruptcy and announced store closings. The net-lease industry needs to "take a real hard look at the sports industry," Horn said. "It is going to be a challenging market. We are going to take a long look at the underlying real estate if we are asked to take on a sports store." (Last year Sports Authority and Golfsmith both filed for bankruptcy.) So where are net-lease REITs headed? Drugstores are the largest tenant group for Realty Income, representing 11.1 percent of rental revenue as of the end of the first quarter. The firm's second largest tenant base is convenience stores. "We are bullish on the convenience-store industry, and it will be one of our top industry investments," said Case. "We're focused on the highest-quality convenience stores, like 7-Eleven, Couche-Tard and Circle K." Convenience stores are the largest category in the National Retail portfolio, accounting for about 16 percent. The company no longer invests in drugstore real estate, so its second-largest category is full-service restaurants, at 12 percent, followed by quick-service restaurants, which represent 8 percent. The firm's next largest category is automotive services, and that is represented primarily SHOT IN THE ARM The net-lease sector of the REIT market got a major boost on June 26 from none other than uber-investor Warren Buffett. Store Capital's share price had fallen — by 25 percent over the past year and by 13 percent since the issuance of the firm's first-quarter earnings statement, according to published reports. But what a difference one announcement can make: After Store Capital reported that multinational financial giant Berkshire Hathaway saw enough potential in the Scottsdale, Ariz.– based company to invest in it, the stock rebounded by some 13 percent. "Berkshire Hathaway's investment solidly positions Store for continued growth, while adding measurably to our already strong financial position," said Christopher H. Volk, Store Capital's president and CEO. "An investment in our company from one of history's most admired investors represents a vote of confidence … and an affirmation The world's only patented camera based PGS Our patented, award-winning M4 smart-sensor technology redefined all expectations for a parking guidance system. Our L4 lightpipe sensor adds advanced LED lighting/control. Core business intelligence Our data-driven Insights ™ platform, a standard feature, tracks parker behaviors and preferences. Enabling you to maximize efficiency, create new opportunities and increase profitability. Added security in the bays With our Park Surveillance ™ API, our exclusive smart-sensors use an unobstructed view of the bays to capture streaming video whenever motion is detected. Or continuously if desired. Next-generation wayfinding: from arrival to exit Smart-sensor LEDs and digital signage combine to show real-time parking availability. Returning parkers use our exclusive Find Your Car ™ by entering a plate number into a k iosk or mobile app. 57 West 38th Street, 11th Floor New York, NY 10018 + 1 917-793-5400 www. parkassist.com A member of the TKH Group Need to increase revenues, efficiencies, customer satisfaction? All three? Our patented parking guidance system (PGS) is accomplishing this and more for the world's top 10 retail developers. A new strategy for driving retail activity. net-lease