LAS VEGAS—When we asked Bradley Bailey, a VP of business development, at Bayer Properties, what he thought would be a big topic at the recent ICSC RECon 2017 conference, he said that retail earnings and department stores, particularly Sears would be a topic of conversation.
“Negativity in retail will likely continue until Sears falls,” he tells GlobeSt.com. “It's not a matter of if, it's when,” noting that the retailer has significant debt and bonds through October 2018 .
And he adds that everyone knows that. “A lot of retail owners and operators are waiting for Sears to fail, so that they can focus on redevelopment and something creative at those assets such as hotels, restaurants or multifamily.”
Bailey, who leads the new opportunities for JVs and third-party services at the firm, which has 9 million square feet under management, also noted that retail is not currently a popular product type with Wall Street, and many REITs are selling retail properties, particularly in secondary and tertiary markets.
“As changes continue to occur in the market, Bayer is aligning with potential buyers to create plans for leasing, management and marketing that maximize return,” he adds.
For other thoughts from experts who attended the ICSC RECon event here in Las Vegas and to learn more about panel coverage from the event, check out the articles below.
LAS VEGAS—When we asked Bradley Bailey, a VP of business development, at Bayer Properties, what he thought would be a big topic at the recent ICSC RECon 2017 conference, he said that retail earnings and department stores, particularly Sears would be a topic of conversation.
“Negativity in retail will likely continue until Sears falls,” he tells GlobeSt.com. “It's not a matter of if, it's when,” noting that the retailer has significant debt and bonds through October 2018 .
And he adds that everyone knows that. “A lot of retail owners and operators are waiting for Sears to fail, so that they can focus on redevelopment and something creative at those assets such as hotels, restaurants or multifamily.”
Bailey, who leads the new opportunities for JVs and third-party services at the firm, which has 9 million square feet under management, also noted that retail is not currently a popular product type with Wall Street, and many REITs are selling retail properties, particularly in secondary and tertiary markets.
“As changes continue to occur in the market, Bayer is aligning with potential buyers to create plans for leasing, management and marketing that maximize return,” he adds.
For other thoughts from experts who attended the ICSC RECon event here in Las Vegas and to learn more about panel coverage from the event, check out the articles below.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
