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dam Winstanley, principal of Massachusetts-based Winstanley Enterprises, is optimistic about the retail sector and plans to increase investments in shopping centers along the East Coast. He expects to close on a purchase of a Massachusetts shopping center anchored by Kohl's soon and aims to buy six to eight shopping centers in 2025.

    Winstanley Enterprises currently has six shopping centers in its portfolio, down from a high of 30 after selling off 14 properties over the past few years. Winstanley attributes the retail sector's resurgence to a persistent demand for open-air shopping centers and a lack of new construction since 2010.

    According to Cushman & Wakefield's third-quarter report, the national retail market is experiencing a slowdown from its recent peak. The vacancy rate remains flat at 5.4%, with tenants relinquishing a net 257,817 square feet of space during the quarter. Retail rent growth moderated to 3.4% over the prior year.

    Locally, Greater Hartford's retail vacancy rate improved to 6.9% in the third quarter, with tenants absorbing a net 181,027 square feet of available space. In New Haven County, the vacancy rate is 8%, but tenants have absorbed a net 18,176 square feet of space through the first three quarters of 2024.

    Winstanley notes that retail has come "full circle," with the U.S. now seeing net store openings after years of decline and closures. He plans to capitalize on this trend by expanding his company's investments in retail properties.