ICSC's RECon: The Vibe is Eagerness

Steven Levin, Centennial Real Estate’s founder and CEO

Part 1 of 2 LAS VEGAS— ICSC’s RECon Global Retail Real Estate Convention is coming up in just under two weeks Sunday through Tuesday at the Las Vegas Convention Center, but if you are (in any way) involved in the shopping center industry, of course you already knew that and are well into planning all your meetings there. What you maybe didn’t know is what all of your fellow retail colleagues are looking forward to and expecting from the event. GlobeSt.com caught up with just a few. Rod Santomassimo , president and founder of the Massimo Group , tells GlobeSt.com that he is hearing a damper throughout the brokerage community as if this is
the last year of the great recovery. “There is a great need to strengthen
relationships going into an unknown election result and potentially major
legislation changes that will impact the industry,” he says, adding that “Nothing beats face-to-face presence. Get your butts to RECon and originate relationships or re-engage with those who will need your expertise today and tomorrow.” Steven Levin , Centennial Real Estate ‘s founder and CEO, tells GlobeSt.com that he expects a very positive environment as retailers and restaurateurs look to bring their concepts to market. “Based on the current industry climate, I would also expect to see a rejuvenated focus on the overall experience of the consumer, inside and outside of the physical store,” he explains. With the supply and demand being disrupted with the large influx of property, according to Jeff Hughes , Stan Johnson Co. managing director, there is a vibe of eagerness. “This equates to different challenges moving from a strong seller’s market to a more balanced distribution. Buyers are being more selective, but with this change there is always new opportunity.” And if last year is any indication of what we can expect this year, Kenneth Lamy , founder, president and CEO of DataPoint International , says that we are going to see a very successful convention for the attendees. “I am personally very optimistic, and I haven’t come across one single person who is not optimistic about RECon.” According to Lamy, who has been meeting with many shopping center executives over the past three months, the mood has been “very upbeat for leasing and for making other business contacts in Las Vegas that will be advantageous to the companies involved. We continue to listen carefully to the mood of the market and it presents one of confidence.” Ron Meyers , SVP of leasing at Phillips Edison and Co. , tells GlobeSt.com that through the firm’s 25-year history of building shopping center portfolios, it has deep-seeded relationships with many of the retailers who attend RECon. Meyers says his team conducts more than 1,000 meetings each year. “It is always a good time to reconnect with them and provide an update on our growing portfolio and our tenants’ growth plans. In addition, we look forward to developing new partnerships with national tenants that have growth plans that align with Phillips Edison’s strategic business objectives.” From an attendance standpoint, Andrea Olshan , CEO of Olshan Properties , tells GlobeSt.com that she definitely expect this year’s crowd to be exceptionally large with the tone of the event markedly positive as retail pricing remains strong. “I also suspect that one of the primary discussion topics will be about the relative prospects of redevelopments/value-add versus ground-up construction.” Check back next week with GlobeSt.com for part 2 of this story, with many more expectations of what we can expect from this year’s RECon event and more insights and forecasts on where the market is headed.