Multi-State Department Store Portfolio

Services Provided: Financial Modeling & Underwriting, Market & Socio-Economic Research, Portfolio Strategy & Feasibility

The Challenge: A client assessing a multi-property department store portfolio needed to systematically evaluate which locations held the highest upside for adaptive reuse or ground-up redevelopment, allowing them to focus capital and resources on the most viable sites.

The Solution: Conducted a comprehensive portfolio-wide screening process that combined store-level operating research, surrounding market analyses (including competitive multi-family rent/occupancy trends and retail fundamentals), and site-by-site financial modeling. Built dynamic underwriting frameworks to test various redevelopment concepts—ranging from mixed-use and multi-family conversions to outparcel monetization—under different cap rates, construction cost assumptions, and density parameters.

The Value Delivered: Provided client with a clear, data-driven portfolio matrix that prioritized properties by risk-adjusted return potential, giving the client a clear strategic roadmap for capital allocation, site disposition, and redevelopment timing.