Largest Retail REITs: Top Property Investment Trusts and What Africa Investors Should Know

Largest retail REITs are some of the biggest Real Estate Investment Trusts focused on retail property, such as shopping centres, outlet malls, and lifestyle destinations. While many of the largest retail REITs are based in the United States and global markets, the principles they demonstrate apply to real estate investors in Africa who want exposure to income‑producing retail property and diversified commercial portfolios.

For investors in Africa — whether exploring local property, cross‑border REIT exposure, or strategic investment vehicles — understanding the largest retail REITs helps you identify trends and opportunities in retail real estate that can influence local markets.

What Is a Retail REIT?

A retail REIT is a Real Estate Investment Trust that primarily owns and manages retail property assets, including:

• Shopping centres

• Malls and lifestyle retail destinations

• Outlet centres

• Strip malls and community retail spaces

Retail REITs generate income by leasing space to retail tenants such as supermarkets, fashion brands, restaurants, and service providers. Investors in these REITs receive dividends from rental income and benefit from diversification without owning physical property.

Examples of the Largest Retail REITs

The largest retail REITs are typically measured by market capitalisation and the size of their asset portfolios. Some of the most significant retail REITs globally include:

1. Simon Property Group
A leading retail REIT with a large portfolio of shopping malls and premium outlets, known for strong tenant demand and long‑term leases.

2. Realty Income
Although diversified across sectors, Realty Income has a significant retail footprint with thousands of retail properties under long‑term net leases.

3. Kimco Realty
Focused on grocery‑anchored retail centres and neighbourhood malls, offering stable income from everyday consumer demand.

4. Regency Centers
Specialises in open‑air shopping centres with strong tenant mixes, benefiting from convenience retail trends.

5. Brixmor Property Group
Owns and manages a portfolio of open‑air retail centres positioned for everyday retail needs and community traffic.

These retail REITs are prominent because of their scale, diversified tenant bases, and professional management structures that support income stability.

Why Largest Retail REITs Matter to Investors

Understanding the largest retail REITs provides insight into property investment fundamentals, including:

Income Stability
Retail REITs often distribute regular dividends sourced from lease income, which appeals to income‑seeking investors.

Diversification
REITs spread risk across many properties and tenants, reducing exposure from a single asset.

Liquidity
Many of the largest retail REITs are traded on major exchanges, allowing investors to buy and sell shares more easily than direct property.

Professional Management
REITs are managed by experienced teams handling leasing, maintenance, and tenant relations — relieving individual investors from operational tasks.

These benefits help illustrate how structured property investments can complement direct property ownership.

Relevance to African Real Estate Investors

While the largest retail REITs are often based in developed markets, African property investors can learn valuable lessons for retail real estate here at home:

Retail Property Demand in Africa
Urbanisation, rising consumer spending, and lifestyle changes are driving demand for well‑located retail space in cities like Lagos, Nairobi, Accra, Johannesburg, and Cape Town.

Local Retail Property Opportunities
Shopping centres, community retail hubs, and mixed‑use developments offer income‑generating potential in African markets.

Structured Real Estate Vehicles
Emerging REIT frameworks in Africa, particularly in South Africa and a few other markets, are creating local opportunities for investors to access diversified retail property exposure.

Professional Management and Rental Yields
Investors can leverage property managers and brokers to understand leasing dynamics, tenant performance, and rental yields — key elements that make large retail REITs successful.

How African Land Supports Retail Property Investors

African Land helps investors access and evaluate retail property opportunities across Africa by:

• Identifying high‑potential retail investments in major African urban centres

• Providing market insights on tenant demand, location trends, and rental income potential

• Advising on acquisition, leasing strategy, and investment performance

• Connecting clients with professional property services and management resources

Whether you’re interested in direct retail property or exploring REIT‑linked investments that expose you to retail real estate, African Land offers the expertise and support you need to make smart, data‑driven investment decisions.