Northmarq’s National Shopping Center Group: Empowering clients with innovative capital markets solutions

Northmarq’s National Shopping Center Group (NSCG) has solidified its position as a leader in the retail real estate sector, leveraging its expertise to navigate a dynamic and evolving market. With a focus on investment sales, debt and equity solutions, and client-first strategies, the team has achieved remarkable growth over the past year. This momentum reflects Northmarq’s commitment to delivering exceptional results for clients across the capital markets while fostering a collaborative and innovative culture.

A year of growth and milestones

With established experts already located coast-to-coast, the NSCG’s growth trajectory reached new heights in 2025 with the addition of Managing Director Bryan Ley and his team based in Los Angeles. Ley’s extensive experience in retail investment sales has been instrumental in furthering the team’s success. “We’ve seen new capital enter the space weekly,” Ley shared. “The market is responding to the strength of retail as an asset class, and our team is well-positioned to help clients capitalize on these opportunities.”

The past year also marked a resurgence in large-scale retail transactions, with 76 trades exceeding $100 million — a staggering 81% increase from 2024, according to Real Capital Analytics. Ley attributes this activity to renewed investor confidence and the sector’s strong fundamentals. “Retail has seen very little new construction over the past decade, which has tightened market occupancy and driven real rent growth,” he explained. This disciplined supply, coupled with durable demand, has created a favorable environment for investors.

Here at Northmarq, our investment sales team reported a 218% year-over-year growth rate for shopping center transactions in 2025, cementing the NSCG’s position as a top provider of shopping center capital markets services. This milestone reflects the team’s ability to adapt to market dynamics and consistently exceed client expectations. “The numbers speak to the strength of our platform and the trust our clients place in us,” Ley said.

Market trends and insights

The NSCG’s success is rooted in its ability to anticipate and respond to market trends. Grocery-anchored shopping centers remain a top choice for investors, offering stability and upside potential. “Institutional and private investors are flocking to these deals because they’re perceived as lower risk,” Ley noted. Meanwhile, unanchored strip retail and power centers are gaining traction due to their higher yields and flexibility. “Power centers, in particular, offer opportunities for value-add strategies, such as re-tenanting, selling off out-parcel pads, or even repurposing portions of the property,” he added.

On the financing side, Vice President Josh Darby highlighted the competitive landscape among lenders. “The strong performance of the retail sector has not gone unnoticed,” Darby said. “Lenders are adapting to borrower concerns by offering medium-term loans with prepayment flexibility, which helps clients manage uncertainty around future rate movements.” He also noted that grocery-anchored centers and lifestyle/experiential retail are particularly attractive to lenders, reflecting their confidence in these asset types.

Delivering value through expertise

The NSCG’s ability to deliver tailored solutions is exemplified by its recent work on Murrieta Town Center, a complex transaction that showcased the team’s depth of expertise. The property’s institutional equity partner sought to exit the deal, while the operating partner, U.S. Realty Partners, preferred to remain involved to complete the business plan. The NSCG team orchestrated a full sale process, attracting 13 competitive offers from a mix of buyers and capital providers.

Ultimately, the team facilitated a recapitalization that allowed U.S. Realty Partners to retain its role while bringing in a new equity partner. “This was a win-win for all parties,” Ley explained. “We not only secured strong results for the seller but also aligned the new capital provider with the operating partner’s vision for the property.”

Northmarq’s debt and equity expertise played a critical role in completing the acquisition financing, ensuring a seamless transition for all stakeholders. Darby emphasized the collaborative effort behind the transaction. “This deal highlights the unique value we bring to clients by combining investment sales expertise with creative financing solutions,” he said. “It’s about understanding the client’s goals and leveraging our national platform to deliver results.”

Looking ahead: Vision and opportunities

As the NSCG continues to grow, its focus remains on delivering exceptional value to clients while fostering a culture of collaboration and innovation. Jeff Cox, executive managing director of commercial investment sales, underscored the team’s appeal to potential recruits. “Our leaders are retail real estate experts with compelling track records across product types and the national landscape,” Cox said. “What sets us apart is our abundance mentality — serving the client with creative, comprehensive capital markets solutions, working collaboratively as a national team, and sharing a passion for this sector.”

Looking to the future, the NSCG aims to expand its national coverage and expertise, solidifying its position as a leader in the shopping center space. “Our vision is to advise and serve our clients with the best teams in the industry,” Cox added. With a proven track record and a forward-thinking approach, the NSCG is well-equipped to navigate the challenges and opportunities ahead.