ULI Talk: Retail Still Sizzles

NEW YORK CITY-Retail is still hot, but the sector is facing some future uncertainties that could slow its growth, said speakers yesterday at an Urban Land Institute panel discussion called “Retail Real Estate: More Sizzle or Fizzle?” Some of those roadblocks could include a decline in consumer spending, higher interest rates and an overall improvement in the stock market, said speakers, at the Hilton New York & Towers.

“If the stock market takes off, you might find a lot of wealth in real estate go back into the market,” said Thomas Caputo, EVP of New Hyde Park, NY-based strip center-owner Kimco Realty Corp. “There’s plenty of opportunities for potholes out there.”

But all of the speakers agreed that times are good now. “I’ve been brokering for 24 years, and I’ve never seen so much capital in the marketplace,” said Bernard Haddigan, managing director of Marcus & Millichap in Atlanta.