GlobeSt names Northmarq among this year’s Retail Influencers

MINNEAPOLIS (May 2, 2023) — We are honored to be named by GlobeSt.com as a Retail Influencer. We are committed to serving clients with all their single- and multi-tenant retail needs for investment sales, corporate solutions and financing.

Retail Influencers 2023
If it weren’t for the current economic uncertainty, we could say that it has never been a better time to be in retail real estate. Fundamentals are sound with vacancy rates at historic lows and for the first quarter of 2023, retail sales performed relatively well “showing the shallowest decline in deal volume across the major property types,” according to a report by MSCI.

It is easy to perform in this environment but the true test will come if the U.S. economy worsens and consumers pull back on spending, which many economists forecast will happen in the coming months. We believe that the men, women, teams and companies we have selected as our retail influencers for this year will be able to pass that test. After all, the sector has seen difficult times in the recent past and went on to not only survive but thrive.

Northmarq
Northmarq, a commercial real estate brokerage and advisory firm focused primarily on the retail sector, was founded in 1962 and is led by President of Investment Sales Trevor Koskovich. Its expertise includes single-asset and portfolio sales as well as sale-leaseback transactions and 1031 exchanges that span all types of retail assets, including single-tenant net lease, unanchored strip centers, neighborhood and power centers. Northmarq has completed more than $45 billion in transactions nationwide and is focused on continued growth and expansion into other industry sectors and services. Since it was founded, Northmarq has closed more than 5,000 retail transactions totaling more than $25 billion in sales activity. After acquiring Stan Johnson Company in 2022, Northmarq gained a legacy focus in the single-tenant net lease sector.

In the past three years, Northmarq closed a long-term triple net lease Target in Huntington Park, California, for $48.7 million; a $40.5 million portfolio of 11 convenience store locations; a Georgia shopping center anchored by Barnes & Noble, DSW and Sprouts for $97 million; a $31.4 million 1031 exchange of a New Orleans Whole Foods; a $35.3 million Walgreens in Miami Beach; and a Midwest grocery portfolio to an international investor for $18.7 million. Northmarq is committed to giving back to its communities and has supported various community organizations, including the Eastern Oklahoma Food Bank, Atlanta Community Food Bank, Habitat For Humanity and Tulsa Day Center.

Reprinted and excerpted with permission © 2022 ALM Global Properties, LLC. All rights reserved.