ICSC DISPATCH: Lenders Fret Construction Cranes

Ian Ritter is national online editor for GlobeSt.com/RETAIL.

LAS VEGAS-Some lenders are concerned about the overbuilding of certain types of projects in the retail real estate industry, according to speakers during a session today at the International Council of Shopping Centers’ Spring Convention. The panel discussion, called “Is Retail Still the Darling of the Industry?” took place at the Las Vegas Hilton.

Timothy Leaycraft, a managing director at TIAA-CREFF, said that he fears that too many lifestyle centers are being built across the country. “It seems to be a very hot sector, and I think that there are projects being built that shouldn’t be built,” he said.