Paul Adoranto, Senior Analyst at BMO Capital Markets, says Acadia Realty Trust (AKR) is a good play on the street-level retail trend.
“Street retail is not located in a regional mall or in a shopping center; these are the stores that you see on West Broadway in Manhattan or Fulton Street in Brooklyn or Lincoln Road in South Beach Miami. National and global retailers are very excited about locating in these places, because it allows them to create flagship stores that establish their brand concepts,” Adornato said.
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Adornato says this brand awareness is important for retailers in selling over the Internet, and that Acadia Realty Trust’s high level of concentration in street retail position it well for future growth.
“Acadia is well-positioned in the movement in favor of street retail, having 50% or more exposure to this property type that will have better growth prospects over the long term,” Adornato said.
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