Search
 

RPAI Senses Conservative Retail Optimism, Focuses on Redevelopment

LAS VEGAS—In a video interview at ICSC's RECon event, Steve Grimes, president and CEO of RPAI, says that his firm is getting some good opportunities to upsize smaller shop space due to a lack of supply.

By Natalie Dolce | nataliedolce | | Updated on June 03, 2016
Steve Grimes, president and CEO of RPAI. Steve Grimes, president and CEO of RPAI.
LAS VEGAS—RPAI conducted well over 200 meetings at the ICSC RECon event—very deal specific meetings—all of which were constructive. That is according to Steve Grimes , president and CEO of RPAI . In a video interview with Jesse Tron , VP of communications at ICSC, Grimes said that after all those meetings and after walking around the show floor, he is sensing “a conservative optimism in the industry right now.” Store counts are still proving to be up, so as long as the retailers remain mindful of managing the margins and managing the profitability of the stores, things should be fine, he says. RPAI is sitting about 95% occupied, which is pretty good, he tells Tron. “We are getting some good opportunities to upsize smaller shop space due to lack of supply.” He continues that redevelopment is a big buzz word at RPAI right now. The firm has significant opportunities that it is looking at, particularly in the Northeast, he adds. “The next stage for us is redevelopment and we see a lot of opportunities organically in our portfolio that we are going to capitalize on.” Click here to watch the full video interview with Grimes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.