New Plan Expects Big Convention

NEW YORK CITY-Glenn Rufrano, the chief executive officer of New Plan Excel Realty Trust, says he expects his company to have more meetings this year than in 2005 at the International Council of Shopping Centers’ Spring Convention in Las Vegas. “Last year, we had 800 meetings; this year we expect more,” he says.

But the company has already started gearing up for the convention. New Plan executives have already reviewed the company’s portfolio with 40 retailers looking to expand, he said during the company’s recent, first-quarter conference call. “These pre-meetings improve our convention productivity,” Rufrano says.

Some of the retailers the firm has met with include big boxes that already have a large national presence but want to expand even more. Linens ‘n Things is making a push into Chicago, Detroit and Philadelphia, Rufrano says, and Target is looking to expand from 1,400 units to 2,010 during the next four years with its new 126,000-sf prototype. Best Buy and Marshalls are also looking for more spaces.