Rebekah Carlson, director of marketing and business development for Next Realty
CHICAGO—The International Council of Shopping Centers opened its Chicago Deal Making conference at Navy Pier this week, and the energy was unmistakable. At 5 PM, crowds of brokers and retailers still thronged through the hall, looking to make connections and perhaps close deals.
“This is a lot like it was ten years ago,” Rebekah Carlson, director of marketing and business development for Next Realty, tells GlobeSt.com. “People are staying downtown to attend social events, meet and do networking, and that's a very good sign.”
She adds that Next Realty, an investment firm in suburban Chicago, was set to host a party for attendees, and had already received about 1,000 RSVPs, compared to about 800 for a similar event it held at the same conference last year.
The enthusiasm shown by attendees has made Next officials quite optimistic that the company will accomplish the goals it set for this conference, which ends today. “Every year it's a little bit different; it just depends where we are in our cycle,” says Carlson.
Aside from filling up some vacant spaces in its centers, the company wants to deploy the remainder of its eighth fund. “We want to buy one more thing,” she says, hopefully before the end of the year. The firm typically buys properties costing between $5 million and $50 million.
Carlson has noticed a few other hopeful changes. For example, the conference seems to have attracted more restaurants that want to expand. But “the most eager retailers are the ones refining their urban prototypes.” These are core, urban infill users, and she believes they have listened to their customers, and based on what they heard, are ready to make improvements to their showcase spaces.
“We want retailers who are in touch with their customer base,” she adds.
But it's the overall gusto seen in the hall this year that remains most impressive. “It's a different playing field than it was even just two or three years ago. Every half hour our leasing director was busy.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
