Gary Rappaport- Compassionate Leader Who Works Hard and Cares For Others (#94)

Gary Rappaport and John Coe Bio Gary D. Rappaport, is Chief Executive Officer of Rappaport, a retail real estate company he founded in 1984. Rappaport provides leasing, tenant representation, management and development services for more than 14.7 million square feet. Rappaport’s portfolio includes more than 76 shopping centers and ground floor retail in some 115 mixed-use properties, both residential and office, located primarily throughout the mid-Atlantic region. Mr. Rappaport is Principal Partner for approximately 5 million square feet of the shopping centers managed by Rappaport. He has made tremendous contributions to the shopping center industry as former Chairman and Trustee of the International Council of Shopping Centers (ICSC) and through his service on ICSC’s Executive, Executive Compensation, Nominating, Government Relations, Long Range Planning and PAC committees. Additionally, his demonstration of a well-rounded competency of the industry earned him ICSC’s respected Certified Retail Real Estate Professional (CRRP) credential. Mr. Rappaport continues to lobby at the state and federal government levels on many issues important to the shopping center industry. Mr. Rappaport is committed to sharing his knowledge and experience as an entrepreneur and has authored three editions of Investing in Retail Properties, which explains how to structure real estate partnerships for sharing capital appreciation and cash flow. The information contained in the book is the basis for classes he teaches for ICSC’s University of Shopping Centers and as an annual guest instructor at Syracuse, Johns Hopkins, Georgetown, American and George Mason Universities as well as the University of Michigan and Georgetown Law Schools. The third edition will be published by Forbes this September. To get the first two chapters of the third edition of Investing in Retail Properties free, visit www.garyrappaport.com. Show Notes The initial shock of the pandemic and portfolio resilience [00:06:00] Gary discusses the challenges faced by the retail industry during the initial shock of the pandemic and how his portfolio withstood the challenge. Lessons learned from COVID-19 [00:13:30] Gary reflects on the importance of reputation, helping others, and putting people first, and how these values have shaped his career. Stability in grocery-anchored retail [00:16:25] Gary highlights the stability and resurgence of grocery-anchored retail, with a focus on the strength of anchor credit tenants in the Washington DC area. Interest rates and their impact [00:20:45] Discussion on how higher interest rates are affecting sales and growth in the real estate market. Impact of high interest rates in the past [00:21:50] Reflecting on the impact of high interest rates in 1981 and how it affected the homebuilding business. Effect of remote work on retail and suburbs [00:27:00] Exploring how remote...