- Attendance was up from last year by perhaps 10-15%. It was estimated there were around 6,500 participants in total.
- There were some good conversations to be had about deals in the pipeline as well as some tenants continuing to expand.
- Overall, those in attendance were in a good mood. Nobody was overly optimistic or pessimistic, rather those in attendance were the lucky ones to survive the recent recession and are simply happy to still be working towards doing deals.
- Along those same lines, groups tend to be more content with “singles and doubles” than looking for that 1 home run deal or development.
- Single tenant Net lease properties remain red hot, both from the investors side of the equation, as well as the development game. Many struggles still lie ahead in underwriting and developing multi-tenant shopping centers, as anchor tenants are slow to commit to new locations while demanding low rental rates and caps on CAM contributions, while local tenants can’t afford to bare the brunt of the off-set CAM charges.
- Large property owners, whether tenants with significant real estate holdings or institutional real estate operators, are looking at capitalizing on the current single tenant market. Large property owners are looking at selling out parcels to either lower their basis or recapitalize the center while tenants are getting reacquainted with the sale-leaseback process.
- There were some new faces in attendance, reaffirming the slow move in the positive direction for both the real estate industry and the overall economy, however the days of large in-house staff of leasing and management teams seems unlikely to return anytime soon.
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Jonathan Hipp
Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.
