Our Approach
We pursue neighborhood and community centers where ownership has paused investment: dated façades, vacancy, and rents well below market. When the fundamentals are sound — visibility, access, demographics — we welcome lease-up risk and apply a repeatable playbook to restore relevance and income.
Where We Focus
Growth corridors and infill trade areas across Houston, Dallas–Fort Worth, Austin, San Antonio, and the Texas Hill Country — especially centers with strong ingress/egress, traffic counts, and co-tenancy potential that have fallen behind on execution.
Execution Levers
- Re-tenanting with national credit and demand-driven local operators
- Façade refresh, restriping, LED lighting, signage/wayfinding, landscaping
- Targeted TI/LC to accelerate absorption and right-size rents
- Outparcel activation and site reconfiguration where feasible
- Disciplined lease structuring to stabilize cash flows and reduce rollover risk
Proven Playbook
Value-add retail is a durable, execution-driven strategy. Across peer projects and partnerships, we’ve seen how a focused capex plan plus decisive leasing unlocks market rents. We bring the same clarity, discipline, and documentation that powers our Deal Studio to each repositioning.
Related strategies: Ground-Up Retail · Mixed-Use · Track Record
Representative Examples
These images illustrate the kind of execution we pursue: light-to-moderate capex with leasing momentum to reset rents, improve merchandising mix, and stabilize income. We underwrite to realistic downtime and TI/LC, then lean on process and vendor partners to deliver.
Why Value-Add Retail Works
- Catch-up to Market Rents: Under-managed centers often sit well below today’s achievable rents.
- Capex with Clear Payback: Façade, lighting, and parking upgrades drive leasing velocity and tenant quality.
- Durable Income: Credit tenancy + smarter lease structuring reduces volatility through cycles.
See how our approach generalizes across asset types in Deal Studio and recent work in the Track Record.
Value-Add Retail — FAQs
What profile of centers do you target?
Neighborhood and community centers with strong fundamentals but underinvestment: dated façades, vacancy, or weak merchandising.
How do you think about TI/LC and downtime?
We underwrite realistic TI/LC and lease-up timelines by category and market — prioritizing tenants with proven demand.
Where do you invest?
Primarily the Texas Triangle (Houston, DFW, Austin, San Antonio) with meaningful activity in the Texas Hill Country.
How does this connect to other strategies?
Re-tenanting and site upgrades complement ground-up retail and mixed-use by creating resilient, cash-flowing retail nodes.
Have a center that needs a reset — or a corridor where retail is lagging rooftops?
Discuss Value-Add Retail