Texas Real Estate Exec Calls for Long-Term Focus in Retail

Benjamin Berkowitz advocates disciplined decision-making and market fundamentals as the industry navigates economic shifts.

Feb. 21, 2026 at 1:34am

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Benjamin Berkowitz, Vice President at Colonial Commercial Real Estate and Co-Founder of Pearl Capital, is urging the retail real estate industry to take a long-term, fundamentals-based approach amid economic volatility and changing consumer behavior. Drawing on his experience in brokerage, tenant representation, and investment, Berkowitz is advocating for a renewed focus on factors like population trends, tenant mix, and local demand rather than reacting to short-term cycles.

Why it matters

Retail real estate remains a critical part of local economies, accounting for over 50% of all retail space in the U.S. and supporting millions of jobs. While headlines have predicted decline, well-located and well-managed retail centers can still perform well, especially in high-growth secondary markets. Berkowitz's perspective highlights the importance of disciplined underwriting and long-term planning in an evolving industry.

The details

Berkowitz has completed over $60 million in transaction volume, specializing in single-tenant and multi-tenant retail properties. He has seen firsthand how sound fundamentals can create durable value, shifting his focus early in his career from immediate wins to long-term planning. Recent data supports this view, with many secondary markets seeing retail vacancy rates below pre-2020 levels driven by essential tenants and local demand, even as new construction remains limited.

  • Berkowitz's first acquisition through Pearl Capital, a 43,000-square-foot shopping center in Wichita Falls, Texas, closed in October 2025.
  • A 2024 report from Cushman & Wakefield found that retail vacancy rates in many secondary markets remain below pre-2020 levels.

The players

Benjamin Berkowitz

Vice President at Colonial Commercial Real Estate and Co-Founder and Principal of Pearl Capital, a firm that focuses on value-add neighborhood and community shopping centers in high-growth secondary markets.

Colonial Commercial Real Estate

A commercial real estate firm where Berkowitz serves as Vice President.

Pearl Capital

A real estate investment firm co-founded and led by Berkowitz that focuses on value-add neighborhood and community shopping centers.

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What they’re saying

“Retail real estate rewards patience. The deals that hold value over time are usually the ones where the fundamentals were sound from the start.”

— Benjamin Berkowitz, Vice President, Colonial Commercial Real Estate

“Early in my career, I focused too much on immediate wins. Losing deals forced me to step back and think about what actually creates durability. That shift changed how I approach everything.”

— Benjamin Berkowitz, Vice President, Colonial Commercial Real Estate

What’s next

Berkowitz encourages industry professionals, investors, and operators to stay grounded in data, execution, and local market knowledge, rather than reacting to short-term cycles. He believes progress comes from steady focus and informed decision-making.

The takeaway

Berkowitz's perspective highlights the importance of disciplined underwriting, long-term planning, and a focus on fundamentals in the evolving retail real estate industry. His approach of targeting well-located, well-leased assets in high-growth secondary markets provides a model for creating durable value amid economic volatility.