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CTO Realty Growth bets on power centers as retail demand improves

The REIT says it is targeting Sun Belt markets for open-air shopping centers, with 85% of its portfolio in North Carolina, Georgia, Texas, and Florida.

Reported · Written up by our desk · REITs

CTO Realty Growth is leaning into power centers as retail fundamentals improve, according to comments from John Albright, the company’s president and CEO, in an interview connected to Nareit’s REITweek: 2026 Investor Conference in New York, June 1 to 4.

Albright said CTO has shifted from being a Florida land company into an owner of open-air shopping centers concentrated in high-growth Sun Belt markets, noting that 85% of its portfolio is located in North Carolina, Georgia, Texas, and Florida.

The company is focused on expanding in places with strong population growth while staying nimble enough to pursue opportunities that larger institutional investors may overlook, Albright said. He added that acquisition competition remains intense, but CTO has found investments in secondary markets such as McAllen, Texas.

Albright also pointed to renewed appeal in power centers, which are typically anchored by retailers such as Home Depot, Lowe’s, or Walmart, and he said demand is growing as grocers seek space in desirable markets where traditional grocery-anchored centers are scarce, while new development has largely stalled. Nareit provided the interview setting for the discussion of CTO’s strategy.

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