Our time at ICSC may have been brief, but boy was it
fruitful. In addition to hosting a live webinar, we picked up a few tidbits
that may help you get deals done in the year(s) to come. Hopefully your time
and ICSC was just as successful. See you next year!
1. Credit is now more important than location
for single-tenant properties
Wasn’t sure we’d ever see the day, but
coming out of this latest economic slump, credit has become much more essential
to the retail industry than location if you’re looking at single-tenant space.
2. The big guys are reinventing themselves
A lot of big retailers like Wal-Mart,
Target and Best Buy are undergoing reinventions and rolling out new concept
stores. Wal-Mart’s touting Neighborhood Markets, Target is unveiling CityTargets
and Best Buy has opened up smaller spaces called Best Buy Mobile. Big box space
is less prevalent these days, and many retailers are responding with smaller
stores that also enable them to enter urban markets.
3. Deals are getting done
The atmosphere throughout the leasing mall
and all the halls was so positive. We hear attendance was up this year, and
that this was projected to be the most successful show since 2007. It definitely
seemed like deals were getting done on the floor. All you had to do was glance
from booth to booth to see filled seats and shaking hands galore!
4. Many retailers are looking to expand
Now may be the best time ever to take
advantage of ProspectNow, as dozens of retailers look to expand. Gyms,
quick-service restaurants, salons, discount stores and shoe stores are all in
growth mode, with many targeting nationwide expansions.
5. REIWISE is the coolest
We just want to thank them once again for being
the gracious hosts of Steve’s ProspectNow webinar on Monday. We had great
attendance – both online and in person – and were thrilled to meet fellow
attendees at their booth. Thanks a million!
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