Halpern Expands Its Southeast Footprint

Even though Matthew Oppenheimer’s mother, uncle and cousins were part of Halpern Enterprises, it wasn’t until he worked his way through a real estate finance major in college that he realized where he wanted to land and embraced the opportunity to carry on the legacy established by his grandparents nearly 65 years ago and assumed the presidency in 2022.

Halpern Enterprises, a privately-held commercial real estate firm, owns and operates more than 50 shopping centers in five states, totaling 3.7 million square feet. After being founded in the 1960s, it was subsequently led by his uncle, Jack Halpern, as CEO and mom, Carolyn Oppenheimer, as executive vice president.

Matthew Oppenheimer worked his way up from property manager, a required post for every Halpern family business member. “I’m grateful for the faith that’s been put in me as president of our family business, and I’m motivated daily to continue earning that trust,” he said.

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Here he shares insights into the company’s growth and market opportunities that have driven its success.

Oppenheimer summarized that the Halpern portfolio was built through two primary channels: acquiring existing shopping centers and developing new properties from the ground up. Investment philosophy centers on identifying well-located, fundamentally sound real estate in thriving markets throughout the Southeast. They continue to expand their geographical footprint in Georgia, Alabama, Tennessee, and the Carolinas, capitalizing on the Sunbelt’s dynamic population growth and retail fundamentals.

Heritage Square near Huntsville, Ala., was recently purchased in 2024.

When it comes to acquisitions, they’re pursuing neighborhood and community centers anchored by grocery stores or big-box retail tenants and properties with value-add potential. The development team is focusing on single-tenant and multi-parcel net lease and mixed-use projects. Some recognizable Atlanta centers are The Shops at Belmont, Pinetree Plaza, Amsterdam Walk and Cheshire Square.

In 2024, they acquired a second shopping center in Alabama. Heritage Square in Madison, near Huntsville, in one of the Southeast’s fastest-growing submarkets. It’s 100 percent occupied and anchored by a 28,000-square-foot TJ Maxx. The firm did several projects with growth brands like Chick-fil-A, Whataburger, Starbucks, Valvoline, Panda Express, and Murphy Oil. They also brought Marshalls and Five Below to the Ellijay center and are transforming a former grocery store in Calhoun into space for a new Marshalls and another national retailer.

Matthew Oppenheimer shared his goals for 2025: “We plan to acquire two to three shopping centers while building our development pipeline. Our portfolio is 96 percent occupied. With retail demand outpacing supply, we are confident in our ability to continue backfilling spaces while making strategic investments.”

He further sees the grocery sector as robust, led by chains like Publix, Whole Foods, and Kroger. Discount apparel retailers, TJ Maxx, Ross, and Burlington, and specialty retailers like pet stores, sporting goods outlets, arts and crafts shops, and hardware stores to continue expanding. The beauty sector, particularly ULTA, shows strength, while discount retailers like Dollar Tree and Five Below remain high performers.

Matthew Oppenheimer became president of Halpern Enterprises in 2022.

When asked about Halpern’s “magic sauce,” Matthew Oppenheimer said, “By owning, leasing, and self-managing our properties, we have greater operational control and clarity. Each department, from leasing to property management to accounting, collaborates closely to ensure we deliver the highest level of service to our tenants and business partners. This synergy also enables us to identify opportunities and overcome challenges quickly.”

With disciplined growth, they are committed to the success of tenants, the communities, and providing rewarding career opportunities for employees.
Under the leadership of Jack and Carolyn, many team members have grown their careers. Matthew Oppenheimer added, “Some employees have been with us for decades and feel like an extension of family. Given this longevity and talent, they have developed strong relationships with tenants, brokers, lenders and industry partners with whom we do business, underscoring our reputation as a stable, trusted company.”

In terms of family working together, Jack and Carolyn have been intentional about succession planning. The third generation has grown up with them as role models, demonstrating respect and support.

Matthew Oppenheimer concluded, “My brother, cousins and I want to be remembered as good stewards of the business. We want to build on the foundation our parents and grandparents created, successfully grow the company, and ultimately transition it to the next generation of our family.”