Tuesday, June 18, 2019

How Much Value Is There in Ground-Floor Retail Space at Student Housing Properties?

NREI
Some student housing properties rent their retail spaces to national retailers like CVS or Target. But in other cases, retail spaces inside student housing buildings stand empty for years—unable to support even a pizza shop.

“Most ground level retail is a drag on a student housing project,” says Frederick Pierce, president and CEO of Pierce Education Properties, which invests in, develops and manages student housing properties. “But in the right location, retail, restaurant or food can be an asset to a project and can support credit tenants.”. . . more