Excellence | Integrity | Humility
Toys R Us, Kay Jewelers outlet and Brooks Brothers factory store have been announced as the newest tenants of The Outlets at Corpus Christi Bay in Robstown, TX.
These stores will join the three previously announced retailers; Express, Guess and Skechers. The remaining stores, about 75 in total, as well as a lineup of food trucks that will serve as the food court will be announced in the months leading up to the November 2016 grand opening.
By: John Flint, Executive Vice President, Asset Management and Strategic Initiatives
Capitalization rates, cap rates for short, are one of the most critical factors when assessing commercial real estate.
The cap rate is the ratio of Net Operating Income (NOI) to asset value. For example a property valued at $1 million that generates an NOI of $100,000 has a 10 percent cap rate.
The ratio is used to measure the expected yields on investment property.
Real estate is no different than other types of investments in that the higher the risk, the higher the return an investor expects to earn. Risk factors include creditworthiness of the tenants, location, and the dynamics of the local real estate market.
In general, lower cap rates indicate less risk on an investment (evidenced by increased demand for that investment) while higher cap rates typically signify a property carries higher risk.
The Outlets at Corpus Christi Bay (OCCB) has named Cesar Briseño, Jr. as General Manager. Mr. Briseño joins OCCB from the Sunrise Mall in Brownsville, Texas, where he served as General Manager for the past 16 years.
While at Sunrise Mall, Mr. Briseño was instrumental in growing the retail center from an idea into a thriving, positive and profitable shopping community. “I take great pride in knowing my center, knowing my retailers and knowing their families,” said Mr. Briseño.” “I intend to employ that same level of personal enthusiasm and passion to The Outlets at Corpus Christi Bay to ultimately help bring jobs and an outstanding shopping experience to this community.”