December 7, 2017
Paul Kang, VP Acquisitions talks with BBJ at ICSC
Paul Kang, Vice President of Acquisitions at Baltimore-based Continental Realty Corporation (CRC), said the lag in retail’s brick and mortar landscape has produced good opportunities to acquire new space. Half of CRC’s 3.5 million square feet of retail space is leased to service companies, like hair and nail salons and grocery stores, making them obsolete to the changing consumer habits of online shopping.
“All this disruption you’re hearing about is good for us,” Kang said, adding CRC is targeting retail purchases in the mid-Atlantic and Southeast U.S. over the coming months. “Our investment criteria for retail real estate has not changed. We’re looking to buy good real estate.”
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $1.5 billion.