It's definitive: the market cycle is in the 7th inning. On what do I base this assessment? Las Vegas.

Yesterday's Wall Street Journal had a feature article about “Project Jackpot,” a Vegas land play on the “strip,” currently occupied by a Walgreen's and Travelodge, is going to market and is expected to fetch a record sum as Las Vegas chalks-up record numbers ahead of its peak in 2007. You may recall that Vegas cratered big-time, on the heels of the great recession, so this is very good news that comes as the ICSC readies for its RECon conference in Las Vegas next week amid a strong economic recovery which is sure to cast a happy glow over attendees.

While everyone these days is increasingly concerned that the market is becoming “overheated” and “frothy,” my view is that we are heading toward a 7^th inning stretch, a nice opportunity to relax, enjoy, and savor a market that will remain in growth-mode for the next couple of years.