ICSC DISPATCH: Panel Expects More Consolidation

(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.”