Invest in the Hottest Real Estate Trend!

Invest in the Hottest Real Estate Trend!

Hi Investor,   Recently, the WSJ published two articles that describe how neighborhood retail shopping centers are the Hottest Real Estate Play in the CRE industry. Retail's resilience can be attributed primarily to a significant decline in retail construction following the 2008-09 financial crisis. Furthermore, brick-and-mortar retail sales have remained strong, with many national retailers deciding to open new storefronts.   Nationally, the availability of retail space dropped to its lowest level in 18 years at 4.8% in the second quarter.   While re­tail land­lords in some ar­eas, in­clud­ing large cities, have been forced to lower rents since the start of the pan­demic, the over­all av­er­age ask­ing rent for re­tail space in the U.S. has increased 6.3% since the sec­ond quar­ter of 2020. Ask­ing rents now av­er­age more than $23 a square foot, ac­cord­ing to CBRE, the high­est level in at least a decade.   Kansas City: Top 10 Retail Market   At Aspen, we have been bullish on neighborhood retail, particularly in our own backyard in the Kansas City market.   According to a recent CoStar article, the retail market in Kansas City is currently experiencing exceptionally low availability, mainly due to a diminishing number of options in smaller-sized buildings. As of September, properties under 5,000 square feet had an availability rate of just 2.6%, which is less than half of the market's average rate of 5.4%. The retail demand has been robust in recent quarters, placing it among the top 10 markets in the country with over 100 million square feet of inventory. Considering the limited speculative construction happening in the market, competition for well-located properties in smaller sizes is expected to remain fierce in the foreseeable future.   We're under contract to purchase our 5th neighborhood retail property in Kansas City. This will be another limited raise and will fill up quickly. Be sure to submit a soft commitment at the link below. This is not a firm commitment, but places your name on our reserve list. SUBMIT A SOFT RESERVE This acquisition will mark our fifth NNN retail investment in Kansas City and is situated across the street from a 54,000-square-foot shopping center that we currently own and manage. The property is strategically located near the intersection of 79th St. and Quivira Road, within a rapidly expanding retail corridor in central Johnson County. Our boots-on-the-ground partners have extensive experience in retail real estate and have completed this exact plan on similar type properties. The strategy is simple: improve curb appeal and visibility of the properties to attract more customers, more customers attract stronger tenants, and more tenant demand drives up rental rates, thereby increasing cash flow & driving value creation. Please note that reservations for this opportunity are on a first come first serve basis. If you'd like more information please review the information in our Data Room.   Feel free to schedule a call here: Calendar   As always, please feel free to reach out with any questions! Best, Ben Ben Fraser Managing Director, Chief Investment Officer Aspen Funds ben@aspenfunds.us Aspen Funds, 5700 112th St., Overland Park, KS 66211, 800-940-1510 Unsubscribe Manage preferences