CNSREIT-AR-2024 Final - Flipbook - Page 8
Open-air shopping centers
are the only major property
type with accelerating
rental rate growth.
2025 opportunities
We believe further opportunities will emerge in both open-air shopping
centers and other sectors we are watching. We believe that prices for
open-air shopping centers do not re昀氀ect their value, and property
owners in the retail space now have the pricing power. We expect
accelerating rent growth as strong demand intersects with very limited
supply. What’s more, we believe vacancies stemming from large,
national tenant closures are an opportunity to improve rents in a
market with limited supply.
We also believe opportunities will emerge in other sectors. When they
do, we expect those properties to have many of the characteristics
we now see in open-air shopping centers: trading values below
replacement value, high initial yields, a dearth of new supply, and
improving pricing power.
We believe the bottoming of the private real estate market, the
di昀昀erentiated property portfolio we are building, and the unique
Cohen & Steers information advantage position CNSREIT for
continued success.
Thank you for your support. We look forward to your continued
partnership.
James S. Corl
Chief Executive O昀케cer and Chief Investment O昀케cer
8
COHEN & STEERS INCOME OPPORTUNITIES REIT
