The Liquid Lunch Project is a business-focused podcast that provides insights and strategies for small and medium-sized enterprises (SMEs). The show features discussions with industry leaders who share their expertise on finance, entrepreneurship, and investment opportunities.
In January 2025, Andy Weiner was a featured guest on the Liquid Lunch podcast. There, he covered a wide range of topics, from the impact of Amazon and COVID-19 on retail to the future of shopping centers in the U.S. The discussion underscored RockStep Capital’s role in helping communities reclaim and repurpose struggling retail spaces.
Andy Weiner is a retail and real estate professional with deep industry roots. His family owned Wiener's Stores, a retail chain that grew to over 150 locations before closing in 1998. Weiner asserts that retail is practically in his blood. Transitioning to real estate, he leveraged his retail knowledge to form RockStep Capital.
"I knew shopping centers and how consumers shopped. That gave me an edge. Rather than being just a tenant, I wanted to be on the ownership side, ensuring these shopping centers remained relevant."
Weiner’s investment philosophy centers on revitalizing struggling shopping centers in secondary and tertiary markets.
We invest in hometowns, places with heart and identity. When a mall goes dark, it impacts the whole town, and we see an opportunity to turn things around. Our goal is to be nimble, to listen to the market and be responsive. We use ‘rock step’ as a verb—it’s about recognizing shifts and moving strategically, just like in a dance.
RockStep Capital specializes in acquiring and revitalizing underperforming shopping centers, particularly enclosed malls, in what Weiner called "hometowns." Unlike traditional real estate investment firms focusing on urban centers, RockStep prioritizes community engagement by involving local investors and lenders in every project. This approach reduces financial risk and ensures the redevelopment aligns with the community's needs and aspirations.
Key elements of RockStep's strategy include:
Local Investment: "We want local investors, we want a local lender, we want community buy-in. And we do that as part of our due diligence to reduce risk. A local investor brings more than just capital—they bring relationships, influence, and an understanding of the market that you can’t get from the outside. That’s what makes our projects successful."
Multi-Use Redevelopment: "A mall is an opportunity to reduce retail and bring in multifamily or bring in a hockey arena, a hotel, fitness, or medical office. Malls were once the heartbeat of communities, and while the retail focus has changed, these spaces still have value. We look at each property and ask: How can we make this a place where people want to gather again? The answer often lies in creating mixed-use environments that serve multiple purposes."
Focus on Positive Leverage: "Amazon killed the weak guys. Those that survived are growing into an inventory that’s not growing and you have positive leverage. If you look at the companies that are expanding today—TJ Maxx, Ross, Aldi, Hobby Lobby—they’re the ones that have figured out how to balance online sales with in-store experiences. That’s why we invest in properties that have strong retail players and good fundamentals."
Operational Efficiency: "We require everyone at RockStep to live by all 25 of our rules. These are the principles that guide our work. One of the most important is being a fanatic about response time. We move fast. Whether it’s leasing, construction, or investment decisions, you can’t afford to be slow in this business. Our team is trained to recognize opportunities and act on them immediately."
Weiner remains optimistic about the future of physical retail, emphasizing that while e-commerce has transformed shopping habits, brick-and-mortar stores still serve a crucial role. According to Weiner, retail is nowhere near dead, and Amazon certainly didn't kill off all retail.
"Those that survived Amazon figured out they had to have a great e-commerce strategy, a strong app, and a fleet of bricks-and-mortar stores. The best retailers today understand that physical locations drive online sales, and vice versa. The customer journey isn’t just online or in-store—it’s both. That’s why you’re seeing these companies continue to grow."
RockStep Capital is at the forefront of this transformation, applying a disciplined investment approach to acquire and revitalize shopping centers nationwide. With a commitment to community-driven development and sustainable growth, Weiner and his team are proving that retail in America is far from dead—it’s simply evolving.
For those interested in learning more about RockStep Capital’s investment opportunities, Weiner encourages reaching out through their website, rockstep.com, or connecting with him directly.
"We have a heart for hometowns. They are a very special place. There is something unique about these communities—a sense of pride, a deep connection. We don’t just invest in real estate; we invest in people and the places they call home. That’s what makes this work meaningful."