RETAIL REAL ESTATE, DECODED

Underwrite shopping-center deals like an insider.

A numbers-first teardown of a real retail deal and the debt behind it, every week.

The go-to platform for retail real estate investors.

Free, weekly. Read by retail CRE pros.

Written by a previous Analyst, Associate, then Director who has transacted $1B+ in retail CRE.

WE COVER ALL FOUR RETAIL FORMATS

Strip & Unanchored

Power Centers

Open-Air Lifestyle

Enclosed Malls

The Deal Sheet

NEW

A curated shortlist of small-balance retail centers actually worth a look, sourced, screened, and quick-underwritten.

EVERY ISSUE

Deal Teardowns

A real center, underwritten end to end.

Anchor Watch

Which anchors are dark, and why it matters.

The Debt Angle

The financing math no one else shows.

Underwriting Tools

Models and checklists you can keep.

LATEST ISSUES

COMING SOON

Issue 001: The Quiet Anchor Risk

How one dark box can change proceeds, rent roll durability, and exit value.

COMING SOON

Issue 001: The Quiet Anchor Risk

How one dark box can change proceeds, rent roll durability, and exit value.

COMING SOON

Issue 002: Debt Yield vs. Reality

A lender-style look at NOI, capex leakage, and the leverage that survives scrutiny.

COMING SOON

Issue 002: Debt Yield vs. Reality

A lender-style look at NOI, capex leakage, and the leverage that survives scrutiny.

COMING SOON

Issue 003: Power Center Rent Roll

What to watch when big-box tenants look durable but the inline shop space tells another story.

COMING SOON

Issue 003: Power Center Rent Roll

What to watch when big-box tenants look durable but the inline shop space tells another story.