CHICAGO—The two-day International Conference of Shopping Centers' Chicago Deal Making conference starts this week at Navy Pier, and there are some signs the investment market is about to pick up.
By Brian J. Rogal |
Updated on October 17, 2016
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Derrick Almassy of CBRE
CHICAGO—This year has already had a few economic shocks like Brexit, and the uncertainty of the upcoming presidential election, of course, still hangs over everything. But as landlords and investors in the retail sector get ready for the two-dayInternational Conference of Shopping Centers’Chicago Deal Makingconference, which starts this Wednesday at Navy Pier, the demand for these properties looks strong, and many owners might be ready to sell.
“We have a lot of listings coming out,”Derrick Almassy, Oak Brook, IL-basedfirst vice president withCBRE’snational retail investment group, tells GlobeSt.com. “The sheer number of deals is high,” and that’s after a summer when the investment market was in the doldrums. “Our hope is that we are through a temporary pause.”
Less product has been available for most of the year, he adds, as many owners seemed reluctant to sell properties in high-performing markets. And that reluctance then stopped still others from putting their own properties on the market, as they knew they would have few opportunities to put the proceeds from a sale back into real estate.
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