Millennials, or America’s youth born between 1982 and 2000, now number 83.1 million and represent more than one quarter of the nation’s population. Their size exceeds that of the 75.4 million baby boomers, according to new U.S. Census Bureau estimates released in June 2015.  They wield $200 billion in annual purchasing power, and they are known for wanting it all, and wanting it all now.

Increased lending opportunities and limited inventory have led to stiff competition for retail acquisitions in the top 25 U.S. markets. Cap rates are the lowest we’ve seen in years and interest rates remain down, while rents continue to grow.

Amid the high competition, we have been an active REIT buyer. We acquired 77 assets last year for $1.2 billion, and we were named the fastest growing acquirer in 2014. Through July of this year, we have acquired 27 centers, bringing our property total to more than 270. We aim to buy another 35 to 40 centers by year-end.

Forget the days of waiting in line to make your purchases. The checkout process is rapidly changing as grocers continue to test new technologies that enhance and/or replace the traditional cashier-and-conveyor-belt model. Goodbye crowded checkout aisles. Hello streamlined purchasing and more enjoyable shopping experiences.

My partner Mike Phillips and I have been in commercial real estate for over 30 years. We’ve seen tremendous change and survived several market cycles. Through it all – we’ve been focused on grocery-anchored shopping centers. When we took the plunge in 1991 and were looking to buy our first asset, we came to the end of the due diligence process and asked ourselves: “is this investment necessity-based?” and “do we understand it?”  We answered yes and closed the deal.  

Our sustainability mission as a retail landlord is two-fold: be a good steward of the environment, and do it in a way that makes business sense and adds value to our shopper center portfolio.

Innovation was what sparked the formation of PECO University in 2005. Mike Phillips announced at the company’s Annual Meeting that we were going to create our own corporate university. Mike and Jeff Edison are very big believers in, and supporters of, continuous education and the University would be dedicated to the associates of Phillips Edison to further the communication, education, and team building that are cornerstones of the company culture.

A company’s success depends heavily on its team performing at a high level.  The ability to function and perform at this level is greatly aided by a healthy workforce.  Phillips Edison & Company understands this and is committed to the wellness of its associates.  Our wellness program offerings currently include free annual biometric screenings, gym membership subsidies, daily deliveries of fresh fruit in our Cincinnati office, and a variety of on-line resources offered through our health benefits partners.

Imagine if you could help the environment, and at the same time benefit your business. Going green with the LEED certification program offers business owners the opportunity to have a positive impact on the world around them while opening the door to a variety of options which can lead to increased profit. The LEED rating system, developed by the U.S. Green Building Council (USGBC), provides independent 3rd party verification that a building is designed and built with best in class green standards.

In some ways, it feels like yesterday that we were shopping, dining and interacting with friends, family and coworkers without a thought to social distancing or face coverings.  Yet, in other ways, it seems as if COVID-19 has been here forever and many are getting restless and frustrated.  These conflicting emotions and peoples’ extremely varied reactions to the pandemic can make managing and leading a team challenging.  How do leaders effectively address the different situations and needs of their teams, respond to the emotional toll a crisis can take on associates and still continue to ac