M&P Shopping Centers, an institution in the Atlanta retail real estate market, completes another strong year in 2022 with significant investments into both the company and the 25-property portfolio. Co-managing directors Jeremy Rosenthall and Simon Engler, continue to implement the strategic plan to increase the value of the existing portfolio and position the private, family-owned firm to acquire more value-add and first-class retail properties throughout the Southeast.

Since M&P Shopping Centers’ inception in 1959, the founders and leaders have built a solid portfolio by identifying and acquiring well-located properties in secondary and tertiary markets, and by managing their properties as if they shopped there with their families — a legacy of personal attention that continues to this day.  “M&P Shopping Centers may be entering a new chapter, but the core of our business and values remains the same,” says Jeremy Rosenthall, co-managing director. Alongside Engler, the two have led the company’s growth strategy since 2015. “While we’ve flown under the radar for many years, we are shifting our approach to be more aggressive in seeking new opportunities including redevelopment, acquisitions and dispositions, joint venture partners and co-investment opportunities.” 

In addition to a fresh new brand inclusive of a logo, website, corporate and property collateral and social media, the firm has invested $1 million in internal operations. Improvements include streamlined systems and processes, new equipment, hardware and software and realigned service providers and partners. The company is also growing its management personnel by hiring an industry-leading director of operations. “Each of these changes allows us to focus more on the big picture, strategic growth objectives,” states Simon Engler, co-managing director. “It reinforces that we’re a relevant and active real estate company that is worthy of the outstanding reputation that has been built over the decades.”

With previous company leaders, Eliot Arnovitz and Michael Plasker serving as trusted advisors and chairmen of the board, Rosenthall and Engler continue the approach of seeking assets that serve as community hubs. The company was founded on really getting to know the retail shop owners and their customers. “Although retail has changed over the past 60 years, it is still all about relationships and we look forward to continuing the founder’s approach to business, shares Rosenthall. “I have absolute confidence in Jeremy and Simon as they continue to guide M&P Shopping Centers on a course of thoughtful, steadily-controlled growth,” says Eliot Arnovitz, partner and chairman of the board. “They are the right people to continue to be a relationship-based company and create value for our portfolio and ensure healthy returns to our stakeholders,” added Michael Plasker, partner and chairman of the board.

Rosenthall and Engler have increased the value of M&P’s portfolio by investing $15 million in capital improvements and executing a methodical disposition and targeted reinvestment strategy. M&P Shopping Centers currently owns 25 shopping centers in Alabama, Georgia, Florida and South Carolina. In the past year, the company acquired a 65,360-square-foot neighborhood shopping center in Birmingham, Ala. and sold two properties: A 42,250-square foot shopping center in Dacula, Ga. and an outparcel in Florence, SC 

As M&P enters its next chapter, the company is perfectly positioned for the uncertainty that the coming year may bring. “I believe that in 2023, we’ll see interest rates increase again and continue the disconnect between what buyers are willing to spend and what sellers expect to receive for their properties,” says Rosenthall. “Retail trades will likely grind to a standstill because of the uncertainty of the market. Our strategy is to stay alert for opportunities so we can quickly take advantage of them as they arise.” In the coming year, the company intends to seek out the best redevelopment, acquisition and disposition opportunities for the portfolio and build its team and partnerships by strengthening relationships with the best players in the business.