SAN DIEGO-San Diego is poised for retail growth, according to panelists at The International Council of Shopping Centers 2014 San Diego Retail Market Forecast. “Unlike other areas, San Diego is not over-retailed,” said Gregg R. Sadowsky, senior vice president of Regency Centers, at the event.
According to Sadowsky, “There is demand, and I see strong growth for San Diego.” More than 200 people attended the program, which focused on changes in San Diego's retail scene. Former San Diego Mayor Jerry Sanders noted in his keynote address that business optimism has increased.
“According to the Chamber's San Diego County Business Forecast, sponsored by Silvergate Bank, there was a slight uptick in business confidence at the end of 2013,” said Sanders. “I hope that business confidence continues to improve in 2014 as more businesses learn about the Affordable Care Act and its impacts, and with the runoff election for the San Diego mayoral race.”
Kelley Maher-Neff, senior vice president of Madison Marquette, moderated the panel discussion, which focused on the year ahead in San Diego retail and highlighted major retail developments in various stages of completion. In addition to Sadowsky, the panel of local industry leaders included Steve R. Scott, senior vice president of Kilroy Realty Corp.; Michael P. Orlando, owner, partner and chairman of the Orlando Co. Inc.; and Colton T. Sudberry, president of Sudberry Properties Inc.
Panelists addressed the shift towards e-retail and brick-and-mortar stores' struggle to appeal to local residents. "It's all about engaging the customer,” said Orlando. “We have to work hard to get the right mix of local and national tenants.”
Sudberry added that successful stores have found that, “creating a sense of place translates into better places for the community. It's the right thing to do for the community and the right thing financially.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
