Dr. Randall Zisler, chairman of Zisler Capital Associates, which provides independent research, consulting and expert witness services, has released a new white paper What Investors Need to Know About Neighborhood and Community Centers.
Investors, especially the stock analysts, have a limited understanding of the many kinds of retail real estate and how they differ. Neighborhood, community and strip centers (NCS) are a good example of this deficiency. When asked, what retail property type constitutes most of the retail inventory, many people would say, malls. They would be incorrect. If asked which retail type presents the least risk, they might hesitate but would likely say, super regional malls. Again, they would be wrong.
Neighborhood, community and strip centers (NCS) are in a class all their own. NCS centers are unique, and supply of NCS is relatively static.
The white paper states that neighborhood and community centers comprises 56 percent of tot
