CONSHOHOCKEN, PA — CenterSquare Investment Management has announced a joint venture with one of the nation’s largest state pension funds to expand its Essential Service Retail (ESR) portfolio. The partnership aims to acquire 30 to 40 properties by late 2026, nearly doubling CenterSquare’s current ESR holdings of 50 properties across the United States.
CenterSquare’s ESR strategy focuses on investing in high-quality, e-commerce-resistant retail properties located in growing markets. These neighborhood shopping centers provide services that customers must visit in person, such as food and beverage, fitness, health care, beauty, and business services. The tenants are primarily regional and national brands offering essential services.
Using a data-driven investment approach, CenterSquare identifies properties meeting its targeted criteria at attractive pricing. This joint venture reflects CenterSquare’s commitment to institutionalizing the niche ESR sector and supporting service-oriented businesses that remain resilient despite the rapid growth of online shopping.
The move marks a significant step in CenterSquare’s effort to capitalize on the enduring demand for essential service retail while providing long-term value to its institutional partners. The JV reinforces the ESR sector’s role as a steady, high-growth investment opportunity in the retail real estate market.
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