Lisa Reynolds

Lisa Reynolds has dedicated her career to retail real estate, beginning in leasing at Simon Property Group before pursuing her MBA from Indiana University Kelley School of Business and transitioning to REIT equity research. Her operational experience negotiating leases and managing tenant relationships gives her insight into retail landlord economics, tenant quality, and the challenges facing shopping centers in an e-commerce era. Lisa understands the critical differences between Class A malls, strip centers, outlet properties, and grocery-anchored retail—each facing distinct competitive dynamics. She excels at analyzing occupancy trends, rent spreads, tenant sales productivity, and whether retail REITs have quality real estate or struggling properties. Lisa was early to recognize that many malls faced structural decline while identifying well-located properties that would maintain relevance. Her coverage spans regional mall owners, shopping center REITs, outlet operators, and net lease companies with retail exposure. She analyzes tenant mix quality, understanding which categories drive traffic and which can be replaced by e-commerce. Lisa also tracks how experiential retail, omnichannel strategies, and last-mile fulfillment are reshaping retail real estate. Based in Indianapolis, she maintains connections across the retail REIT industry while providing realistic assessment of this challenged property sector.