Nareit's REIT Report Podcast
A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders.
Nareit's REIT Report Podcast
Brixmor CEO on Repositioning Assets to Capitalize on Open-Air Retail Strength
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Brian Finnegan, CEO of Brixmor Property Group Inc. (NYSE: BRX), joined the REIT Report podcast to highlight the positive environment for open-air retail—supported by consumer resilience and strong tenant performance—and the REIT’s ongoing efforts to reposition assets to capitalize on those favorable conditions.
Finnegan has served as president and CEO since January and has held a range of positions since joining a predecessor of Brixmor in 2004.
Second quarter results showed continued operational strength at Brixmor, with small shop occupancy hitting a new record.
“I think the success that you're seeing in small shops is really the fact that consumers are just demanding more of the suburbs…they're demanding higher levels of restaurant, of service uses, and we see that across our portfolio… that consumer demand is leading to us being able to attract great operators at our shopping centers,” Finnegan said.
Elevated brands including Sephora, Warby Parker, Williams Sonoma, and Pottery Barn recognize the traffic that high-quality food and beverage and service “are bringing to complement great anchors at our shopping centers. And we've been a big beneficiary of that,” Finnegan pointed out.
Last month, visits to Brixmor centers rose almost 4%, Finnegan said. Retailers are noting the resiliency of the consumer, even if consumers are trading down a little in terms of what they ultimately purchase. At the same time, a focus on value helps Brixmor’s off-price tenants including TJX, Burlington, and Ross Stores, he added.
Chapters:
00:00 Elevated Brands Arrive
00:26 Welcome and Guest Intro
00:57 Honoring Jim Taylor
01:49 Brian’s Path to CEO
03:01 Q2 Results and Occupancy
04:25 Small Shop Resilience
06:01 Hybrid Work Tailwinds
06:59 Consumer Trends and Value
09:10 Tenant Mix and Grocers
10:09 Site Priorities and Outparcels
11:28 Capital Allocation Playbook
13:44 Market Expansion Strategy
14:44 How Brixmor Uses AI
16:13 Community Commitment
17:41 What Excites Brian Next
19:10 ICSC Foundation Goals
20:28 Closing and Subscribe