Window Opens for Specialty Retailers, ICSC Conference Told

ORLANDO-Opportunities abound for specialty retailers over the next several years as consumers continue to search for convenience and quality service, 3,000 delegates attending the 2003 Florida Conference of the International Council of Shopping Centers were told. The three-day conference at the Gaylord Palms Convention Center ends Tuesday.

“Opportunities will come to retailers that stay ahead of the curve and aggressively respond to consumer needs,” said John M. Crossman, senior vice president of investment services in the local office of Dallas-based Trammell Crow Co. “As older retailers like Kmart leave submarkets, opportunities will open up for specialty retailers that offer services and experiences that Wal-Mart and the Internet cannot provide.” He urged retailers to “invest dollars in research so that they fully understand their customers’ needs, wants and desires.”

On the investment side, grocery-anchored shopping centers are at the top of every investor’s buy list, Crossman said. “Capital markets have been pushed by low interest rates and the lack of alternatives in other market sectors has pushed prices further due to tremendous competition,” the broker continued.