Investing in Shopping Malls in Secondary/Tertiary Markets at 15-25% Cap Rates - Andy Weiner -

Andy Weiner, President of RockStep Capital, started RockStep Capital Corporation in 1996. Weiner has built or acquired over 9 million square feet of shopping centers throughout the United States.

Prior to founding RockStep Capital, Weiner served as Vice President of Operations for Weiner Stores, a chain of 159 family clothing stores with locations in Mississippi, Louisiana, and Texas.

We discuss:
Andy’s mall thesis
A Deal Breakdown of a mall in Small town America
Implementing a successful company culture via the Rocksteps

Links
RockStep Capital - https://rockstep.com/
The 25 RockSteps - https://rockstep.com/company/rockstep...

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Topics:
00:00:00 - Intro
00:01:20 - Andy’s background
00:05:25 - Retail pricing structures
00:10:29 - Falling in love with small-town America
00:14:35 - Andy’s mall thesis
00:17:44 - What Andy looks for when underwriting a mall
00:26:10 - What are deal killers for you?
00:29:59 - Capitalizing and Closing deals
00:34:52 - Deal breakdown: Manhattan, KS
00:41:57 - Zombie malls
00:45:19 - Government funding + battling Amazon
00:48:24 - Alternative ways to monetize mall assets
00:51:06 - The RockStep way

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