If it weren't for the current economic uncertainty, we could say that it has never been a better time to be in retail real estate. Fundamentals are sound with vacancy rates at historic lows and for the first quarter of 2023, retail sales performed relatively well "showing the shallowest decline in deal volume across the major property types," according to a report by MSCI.

It is easy to perform in this environment but the true test will come if the U.S. economy worsens and consumers pull back on spending, which many economists forecast will happen in the coming months. We believe that the men, women, teams and companies we have selected as our retail influencers for this year will be able to pass that test. After all, the sector has seen difficult times in the recent past and went on to not only survive but thrive. Watch it happen again and read the next several pages if you want to see who we bet will be leading the vanguard.

INDIVIDUALS

FRED BATTISTI First National Realty Partners' first-ever managing director – head of leasing, Fred Battisti, says his greatest professional accomplishment has been building and running the firm's leasing department. He established the firm's in-house leasing team and built it with a tenant-centric approach designed to improve occupancy. Within his role as managing director – head of leasing, Battisti oversees the firm's leasing team, develops and executes a company-wide leasing strategy and is responsible for maintaining and increasing property-level revenue, guiding tenant underwriting on acquisitions and managing leasing fees. In addition, he serves on FNRP's investment and real estate committees. Since joining the firm two years ago, he has helped grow FNRP's portfolio to 11.2 million square feet across 55 properties and executed 282 lease documents totaling 1.275 million square feet of transactions. In his first year with the firm, he oversaw the lease of 202,000 square feet of new space. In his second year, he oversaw the lease of 538,000 square feet of new space, including the more than 30% vacancy inherited through acquisitions. In 2022, the company completed a record 105 net new lease transactions totaling more than 538,000 square feet of new space. Battisti's ability to navigate the retail market and leverage his tenant relationships has solidified FNRP's success in the grocery-anchored essential retail investment market and it recently earned him a promotion to chief revenue officer. Battisti is an active member of ICSC and recently was selected to join ICSC's Next Generation Leadership Network class of 2022-2024. At home, his community involvement is grounded in a deep commitment to supporting those who are leading a life in recovery, including serving on the advisory board for Caron Treatment Centers, a leading alcohol and drug recovery center.