Jim Taylor, president and CEO of Brixmor Property Group Inc. (NYSE: BRX), sat down for a video interview at Nareit’s REITweek: 2024 Investor Conference, held in New York from June 3-6. He highlighted the key trends impacting the retail property sector over the next six to 24 months, noting a critical imbalance in the market.
"There's basically been no new supply of shopping centers over the last 15 years, while we've had pretty robust retailer demand for locations in our center," Taylor said, adding that this supply-demand dynamic is expected to drive the business well beyond the short term.
Taylor also commented on the increasing activity in the transaction market, emphasizing that Brixmor is beginning to see more acquisition opportunities that align with their cost of capital and geographic focus: "While we've not announced much to date, expect us to be more significant on that front," he said.
When asked about Brixmor's priorities, Taylor underscored the importance of talent and culture, asserting that "great real estate matters, but great people matter far more." He emphasized that the company's success is significantly attributed to the quality of its team, which is crucial for sustained outperformance.