James Taylor, Jr., president and CEO of Brixmor Property Group Inc. (NYSE: BRX), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.
Taylor described some of the efforts Brixmor has taken to become a more balanced capital recycler. He noted that over the last 18 months the company has sold about $1.5 billion of assets that presented less growth opportunities or were in non-strategic markets.
“We’re now in a position to be more balanced as a capital recycler, matching dispositions with acquisitions, as well as [making] investments to make our shopping centers better…It’s an exciting phase for us as a company as we turn toward playing offense versus simply pruning the portfolio,” Taylor said.
Meanwhile, Brixmor is setting a record from a small shop leasing perspective, Taylor said. “We’re certainly seeing a lot of great momentum, particularly as we invest in the centers.”
Taylor also commented on the ways in which Brixmor is working to bring in tenants that will be the best match for its centers, while proactively reducing exposure to potentially outdated retail concepts.