CHICAGO—Although the city of Las Vegas has just been drenched by a rare spring rainstorm, Chicagoans there at this week's International Council of Shopping Centers' annual RECon conference feel “sunny and optimistic,” Andrew Hochberg, chief executive officer of Northbrook, IL-based Next Realty, LLC, tells GlobeSt.com. “The convention is very upbeat and positive. I think people have largely worked through the problems they had due to the recession.”
Most in the massive crowds seem interested in acquisitions, he adds, so much so that it reminds Hochberg of the aggressive buying seen in 2007. Still, “lenders are a little more careful and new development is not as intensive.”
He also suspects that some buyers may be a bit too eager and should remember to consider what could happen ten years down the road when interest rates are up and they need to refinance. “I don't think most people think about that. I'm very optimistic about the industry right now, but you do need to be careful.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
