Corner Capital 2022 Review & 2023 Outlook
Happy 2023
This past year seemed to be a tipping point in our industry in many ways. Regulatory and economic headwinds hit us "full-on", yet what is wonderful about our industry is that marketers and retailers did not miss a beat.
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Margins made up for a lot challenges, and the transactional side of our industry keeps going. The demand for our industry's products and services remains strong - whether for buying food, filling-up, or buying your business. Customers, acquirors, and investors are still knocking on your door. We see no change in the demand for good assets and good companies, while we do see higher interest rates impacting "peer-to-peer" transactions which is expected in this part of the business cycle. It was a stellar financial year for most.
In addition to our 2020 relocation to Austin, TX, in 2022 we launched a new affiliate, Corner Realty LLC, to provide full-service real estate brokerage for our industry. We believe that our team's industry expertise can be of benefit to smaller transaction sizes and to single sites. We hope we can become a trusted advisor for the real estate needs of your operations - including Net Lease, divestiture of poor performers, and financing options. Our partnership with KellerWilliams Commercial allows us to broker single-sites across the entire U.S.
In this year's Annual Report, we cover the normal topics including i) regional and national M&A activity, ii) big events and interesting trends, iii) Corner Realty overview of services, and iv) some of Corner Capital's transactions. Perhaps most interesting, we researched the resource challenges facing the EV industry which leans heavily towards regulatory and political power at the expense of science and economics. We hope you find this Report a "good read" and helpful as you navigate 2023. As always, please reach out to the throw the ball around anytime!
Sincerely,
P.A. (Andy) Weber III
(805) 895-7280 (c)