2021 Retail Investor Survey Report

08 MOST ATTRACTIVE ASSET TO PURCHASE

LEAST ATTRACTIVE

MOST ATTRACTIVE

Grocery Anchored

Malls

Power Center

High Street

Small Shop

Value-Add

09 PRIORITIZING UNDERWRITING METRICS

1. Market Rents 2. Vacancy 3. Downtime 4. Rental Growth 5. Yield Targets 6. TA Costs

10 BIGGEST CHALLENGE IN TODAY’S PURSUIT OF ACQUISITIONS MOST CHALLENGING

LEAST CHALLENGING

Lack of Compelling Opportunities

Cost of Capital

Limited Debt Options

Uncertainty in Underwriting Cash Flow

Bid-Ask Gap

10 // RETAIL INVESTOR SURVEY REPORT