COSTAR NEWS | July 8, 2024 | Written by: Tony Wilbert
In Video Interview, CEO Terry Montesi Discusses How Firm Responds to Lack of Space
Space in Trademark Property’s shopping centers is so tight the investor and developer id having to take a couple of major steps to make room for new tenants, according to its top executive.
Trademark’s centers are 96% to 97% leased across the country, including the Market Street — The Woodlands complex it operates with a partner near Houston, founder and CEO Terry Montesi said. With brokerage JLL estimating the country’s overall retail vacancy rate at 4.1%, Fort Worth, Texas-based Trademark is replacing some existing renters with larger ones and getting back into the development business to create more space.