The Weekly Take from CBRE

Retail real estate’s comeback is undeniable. Investor Adam Ifshin details how open-air retail once again became a preferred institutional asset. Recorded at ICSC Las Vegas, Adam discusses the appeal of secondary markets, value-add strategies and the reasons why real estate operations are now the key drivers of returns.

· Open-air retail is once again an institutional asset class.
· Secondary markets offer compelling growth opportunities.
· Integrating healthcare tenants are a powerful value-add.
· Skilled operators drive higher returns, especially in tight markets.
· Limited new supply is driving long-term rent growth.

Private club entrepreneur Tommy Shuey and CBRE’s Kelly Whaley discuss how these venues fill a growing need for personalized service and engagement outside the home or office, while driving value for both property owners and local communities.

· A new “third place” is emerging: Private clubs are filling a growing desire for curated spaces where people can connect outside the home and workplace—a trend worth watching.
· Landlords stand to benefit: These venues come with specialized space requirements that can translate into enhanced asset value and differentiated tenant mixes.
· Investment opportunities are expanding: “Clubonomics” is carving out a distinct niche, especially in markets undergoing transformation and reinvention.
· Dallas offers a blueprint: The city's embrace of upscale amenities outside the traditional downtown illustrates how this trend could impact urban real estate.

Two titans of New York real estate—Larry Silverstein and CBRE’s Mary Ann
Tighe—reveal the vision and partnerships behind the rebuilding of the World
Trade Center and Downtown Manhattan’s transformation into a vibrant 24/7
community. They make the case for art and culture as catalysts for
revitalization, dissect the complexities of public-private collaboration and
offer insights into today’s evolving office market.

LBA Realty's John Garrigan and Eric Brown and CBRE’s Matt Carlson discuss the resilient drivers propelling growth in the San Diego market. They also make a compelling case for value-add office investments, dissect the nuances of industrial capital markets and explore the role of relationships in navigating opportunities.

• Industrial leasing is gaining momentum.
• A flight to quality still defines office demand.
• Smart value‑add strategies can restore positive leverage in certain sectors.
• In industrial & logistics, infrastructure, power and relationships are key.
• San Diego’s economic diversity lessens volatility.

Secondary investments and recapitalizations help investors find opportunity in uncertain markets. Brookfield’s Chris Reilly and CBRE's Matt White break down what returns to expect, why disciplined leverage matters and how strong operators are winning right now.

· Secondary investing lets investors buy into real estate deals midstream, with the benefit of first seeing real performance data.
· Recapitalizations are increasing as billions of real estate debt is coming due and owners need fresh capital.
· Keeping debt levels around 60% or less helps investors weather market downturns.
· Brookfield targets 12%–14% net returns in its value-add funds.
· Hands-on operating expertise matters more than financial engineering.