CenterSquare Investment Management has recently announced a partnership with one of the largest state pension funds in the country. This joint venture is focused on institutionalizing and expanding the Essential Service Retail (ESR) sector, with plans to acquire 30-40 properties by late 2026.
The ESR strategy at CenterSquare targets high-quality service retail properties that are resistant to e-commerce and meet specific investment criteria at attractive prices. Using a data-driven approach, their team identifies and invests in neighborhood shopping centers located in fast-growing markets.
These shopping centers offer essential services such as food and beverage, fitness, beauty, health care, medical services,and business services to the public. The tenants are well-known regional or national brands whose customers must physically visit their stores for products or services.
Currently holding a portfolio of 50 ESR properties across the United States,Centersquare aims to double its size over the next two years through this new programmatic joint venture.
