Retail Real Estate is undergoing a huge transformation. Store closures were at record levels with over 105 million square feet in 2017 and 145 million square feet in 2018. American retailers have already announced 6,000 store closures this year. That's more than all last year.
With many retailers looking to streamline rather than expand their brick-and-mortar footprint, filling vacant Shopping Center space today presents a challenge. As a Shopping Center Owner, you need to respond quickly and creatively to this changing dynamic and can benefit from the opportunity to welcome new tenants at potentially higher rents taking your Shopping Center to the next level.
Retail Properties Impact (RPI) provides solutions by creatively leasing and redeveloping vacant Shopping Center space through its proprietary multi-channel technology that is not available in the traditional retail leasing approach. We utilize an Owner's Representative model and can serve either as your Shopping Center’s sole leasing unit or as a compliment to your existing leasing team.
The principals of RPI along with their past team members have provided retail development, leasing, management, asset management, brokerage, accounting, consulting and/or marketing services for over $3 billion of shopping center properties across the nation.
We have developed proprietary multi-channel technology that enables us to quickly and efficiently identify and attract traditional retail AND non-traditional alternative use tenants to your Shopping Center.
RPI delivers superior quality, service and value. Built on a solid foundation of more than 30 years of retail real estate experience, we provide creative solutions that focus on results and deliver exceptional returns for our clients, investors and retail partners. We implement our extensive experience and resources to create value for our owners, investors and retail partners that we represent.
The principals of RPI along with their past team members have provided services as follows:
John Nagle, CLS (Certified Leasing Specialist), has been in the real estate business for over 30 years as an owner, developer, manager and broker. As Founder and Chief Executive Officer of RPI, John Nagle has generated over $1 billion in commercial real estate sales, over 6 million square feet of retail tenant leasing activity and has secured over $7 billion in commitments of debt and equity funding for Shopping Center real estate.
Prior to Founding RPI, Strategic Growth Capital Advisors and Strategic Growth Retail, John Nagle was Co-Founder, Chief Operating Officer and Principal of Capital Growth Properties, Inc. and Capital Growth Madison Marquette, LLC a private shopping center real estate development and management company, where he was responsible for rapidly growing the third-party management services portfolio from zero to over $1.3 billion in assets in less than 2 years and owned retail real estate portfolio to a value in excess of $76 million.
John Nagle was Co-Founder and Principal of Imagine Resorts & Hotels; Co-Founder, Chief Operating Officer and Principal of The Great Lakes Companies (predecessor to Great Wolf Resorts). The Great Lakes Companies, Inc. (GLC) was founded in 1995 as a diversified real estate company with a focus on hotel and indoor waterpark resort development and management, land development and assisted-living and affordable senior housing. Less than 10 years later, the company had grown into a real estate conglomerate with over 4,000 employees and a combined asset value exceeding one billion dollars. In December, 2004 GLC successfully spun off the resort portfolio in an $800 million enterprise value IPO, as Great Wolf Resorts (NASDAQ:WOLF). Great Wolf was, and remains, the largest owner, operator and developer of indoor waterpark resorts in North America, and currently has 18 resorts.
John Nagle, served as Assistant to the Chairman of the Board, Vice President of Leasing, Director of Hotel Operations and Principal of General Growth Properties, Inc. (GGP), during which time he completed sale of 19 malls for $800 million, which at the time was the largest single asset real estate transaction in history. GGP grew to be the country's second-largest developer and manager of regional enclosed shopping malls, largest manager of institutionally owned assets and world's fifth largest owner of real estate of any kind by square footage with over 127 retail properties comprised of over 121 million square feet of GLA. John Nagle pioneered the concept of the "Portfolio Review", which has now become an industry standard. The Portfolio Review offers established national brands, regional operators and entrepreneurs looking to enter markets an opportunity to evaluate different property types and locations across the portfolio to find the best fit for their needs in one convenient session.
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