Memphis-based retail brokers are seeing a year that may return to pre-pandemic numbers following a strong close to 2021.
Josh Poag, president and CEO at Poag Shopping Centers, said that a productive fourth quarter signals to him that activity will pick up this year for buyers and developers.
“We’re always looking to acquire and so I’m always talking to capital partners around the country,” Poag said. “A year ago — and for the past couple years — when calling people, they’re not hanging up on me but they said, ‘Hey Josh, good to catch up with you, but no, we’re not interested in retail.’
“I’ve now had about a dozen calls from people saying, ‘Hey Josh, so what are the traffic numbers? What’s going on with your sales numbers?’ There are a lot of people out there that are looking at dipping their toe in the water,” he continued.
While Q1 is normally a slow month for retail, Poag said that a strong end to 2021 and strong traffic to start 2022 shows signs of equaling an encouraging year nationwide.
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