About James Taylor
James Taylor, CEO of Brixmor Property Group, has described the open-air retail sector as benefiting from strong fundamentals, citing "no new supply" combined with "robust demand" from retailers who have recognized the role of physical stores in serving customers. He has characterized tenant disruption as an opportunity to "bring in better tenants at better rent," noting that struggling tenants do little for a shopping center and can be replaced with tenants that drive more traffic and higher rents. Taylor stated that Brixmor has been increasingly active on the acquisition and disposition front, with about $200 to $300 million under control and expectations for that figure to grow.
Taylor has highlighted Brixmor's strategy of clustering investments in specific markets and reinvesting capital into existing properties. He cited examples such as the Shops at Palm Lakes in North Miami, where the company converted an older grocery store to a more relevant concept, replaced a dark Kmart with LA Fitness and dd's Discounts, and added outparcels, generating an incremental 8% return on $31 million invested. In Venice, Florida, he noted a $9 million investment at an incremental 11% return, creating over $8 million in additional value. Taylor has also emphasized the company's purpose of creating centers that serve as the heart of their communitiesholistic.
Source: AI-verified profile updated from James Taylor's recent appearances.
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Transcript (9 segments)
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James Taylor0:00
For a number of years we've had essentially no new supply in the open air retail space. At the same time, we've had pretty robust demand from retailers who've recognized the role the store serves in serving their customer. So we've had robust demand with literally no new supply. It's created a tailwind for both Brixmor and a lot of other owners in the open air space from a momentum perspective.
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Interviewer0:27
I'm here today with Jim Taylor, CEO of Brixmor Property Group. Jim, welcome.
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James Taylor0:31
Thank you, Sirah. It's good to be here.
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Interviewer0:33
So Jim, how would you describe fundamentals in your sector and how is Brixmor positioned to respond?
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James Taylor0:39
They're quite strong. For a number of years we've had essentially no new supply in the open air retail space. At the same time, we've had pretty robust demand from retailers who've recognized the role the store serves in serving their customer. So we've had robust demand with literally no new supply. It's created a tailwind for both Brixmor and a lot of other owners in the open air space from a momentum perspective.
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Interviewer1:06
And can you speak to Brixmor's ability to use tenant disruption as an opportunity to drive value?
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James Taylor1:13
Absolutely. It's simply bringing in better tenants at better rent. So if you have a tenant that's struggling, they're really not doing much for your shopping center. And if, as we do, you have attractive rent basis, you're able to attract a better tenant that's going to drive more traffic to your center at a higher rent and therefore create value.
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Interviewer1:32
And how active have you been this year and how active do you expect to be next year on the acquisition and disposition front?
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James Taylor1:38
We have begun to be much more active as we see opportunities within the marketplace to take our platform, our leasing, redevelopment, and operation platform, and make the centers better that we look to acquire. And we're very excited. We've got about 200 to 300 million under control today, and we see that growing substantially over the coming quarters.
