#360 - Andy Weiner - President @ RockStep Capital - Investing in Shopping Malls in Secondary / Tertiary Markets at 15-25% Cap Rates
Description
Andy Weiner, President of RockStep Capital, started RockStep Capital Corporation in 1996. Weiner has built or acquired over 9 million square feet of shopping centers throughout the United States.
Prior to founding RockStep Capital, Weiner served as Vice President of Operations for Weiner Stores, a chain of 159 family clothing stores with locations in Mississippi, Louisiana, and Texas.
We discuss:
- Andy’s mall thesis
- A Deal Breakdown of a mall in Small town America
- Implementing a successful company culture via the Rocksteps
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Links
Topics
(00:00:00 ) - Intro
(00:04:58 ) - Andy’s background
(00:09:09 ) - Retail pricing structures
(00:14:06 ) - Falling in love with small-town America
(00:18:52 ) - Andy’s mall thesis
(00:21:59 ) - What Andy looks for when underwriting a mall
(00:30:19 ) - What are deal killers for you?
(00:33:58 ) - Capitalizing and Closing deals
(00:38:50 ) - Deal breakdown: Manhaatan, KS
(00:45:37 ) - Zombie malls
(00:48:53 ) - Government funding + battling Amazon
(00:52:07 ) - Alternative ways to monetize mall assets
(00:54:27 ) - The Rockstep way
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