Private investors are snapping up shopping centers and other bricks-and-mortar real estate, a bullish sign for the beleaguered retail property sector as it emerges stronger than expected from the Covid-19 pandemic.
While many real-estate investment trusts and other big players remain cautious, retail property sales are increasing to family offices, wealthy individuals and small private investment firms. These buyers, who are more nimble than big companies, were responsible for nearly three-quarters of retail-asset acquisitions in 2021, a 30% increase from the 10-year historical average, according to real-estate services firm JLL .