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

NEW YORK CITY-Plenty of large retailers and retail REITs have changed hands over the last two years, and some industry observers don't expect that trend to stop any time soon. Speakers on a panel at the International Council of Shopping Centers' New York National Conference and Deal Making at the Hilton New York & Towers told their audience to expect that more companies will change hands.

"There's a lot of consolidation yet to happen," said Robert Michaels, president and CEO of Chicago-based mall owner General Growth Properties. "I don't think you'll see a lot of department stores go away. I think you'll see a lot more consolidation."

Recent examples of consolidation include Saks Inc.'s sale of its Northern Department Store Group to Bon-Ton Stores and is Southern Department Store Group to Belk. But department stores need to do more than consolidate, Michaels says, they must also find ways to stay relevant and regain the market share that big-box chains have taken away.