Podcast

Zen and the Art of Real Estate Investing with Jonathan Greene

274: Repositioning Shopping Centers in Hometown Markets with Andy Weiner

Shopping centers may not dominate headlines like multifamily or industrial, but they remain one of the most overlooked opportunities in commercial real estate.

In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Andy Weiner, founder and president of RockStep Capital, to discuss how shopping centers, especially in hometown markets, continue to thrive. Andy shares his unique approach to repositioning retail properties, building coalitions with local leaders, and investing where others often overlook.

With decades of experience in retail and real estate, Andy has witnessed firsthand how Amazon, shifting consumer habits, and COVID have transformed the shopping center landscape. Instead of retreating, he’s leaned into markets with essential drivers—universities, military bases, strong hospital systems, and tourism—that support community retail. His RockStep coalition model brings together local investors, banks, and municipalities to revitalize shopping centers, creating not just strong investments but also community anchors.

Jonathan and Andy explore the nuances of evaluating tenants, identifying markets with sustainable growth, and managing assets in a way that prioritizes both profitability and long-term community impact. This conversation challenges the narrative that retail is dead, highlighting why shopping centers in secondary and tertiary markets may be some of the most compelling opportunities available today.

In this episode, you will hear:

The philosophy behind RockStep Capital and the meaning of rock step in business
Andy’s journey from family retail operations to shopping center investment
The distinctions between grocery-anchored centers, power centers, and enclosed malls
Investment advantages in hometown markets with strong community ties
The role of local business leaders, banks, and municipalities in successful retail repositioning
How positive leverage creates strong yields in shopping center investments
Considerations for smaller retail properties as a starting point for new investors
Ways demographics and employment drivers shape retail viability

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