ICSC Attendees Navigate Retail Real Estate Trends
Distress opportunities in the market have not materialized as anticipated, says one source.
LAS VEGAS—In a recent discussion on emerging trends in retail commercial real estate in preparation for the upcoming ICSC Las Vegas conference, Mike Sladich, Regional Managing Director at Northmarq, shed light on the retail landscape. Contrary to expectations, he says that distress opportunities in the market have not materialized as anticipated.
Despite raised funds and anticipation of a downturn akin to the global financial crisis, the retail sector paints a different picture. He notes that rents are on the rise, vacancy rates remain low, and lenders exhibit flexibility in refinancing agreements.
Mark Sigal, CEO of Datex Property Solutions, emphasizes the prominence of lifestyle retail, which was the fastest-growing segment before the pandemic. He tells GlobeSt.com that as new retail developments gradually emerge and occupancy reaches near-peak levels, lifestyle-oriented retailers and similar properties will outperform the broader market.
Discussing the importance of data, Sigal highlights the significance of actionable insights in decision-making processes. He praises Placer.ai for their comprehensive location analytics, which aid in investment decisions, retailer site selection, merchant health assessment, and market targeting. Sigal also underscores the potential of leveraging smarter data to optimize returns and operational efficiency.
Another trend he pointed to was the transformative potential of artificial intelligence in revolutionizing retail real estate operations. With various facets of portfolio management, including leasing, property management, facilities management, asset management, and investment management, generating substantial amounts of data, AI is poised to streamline processes, he says. By optimizing strategies, coordinating stakeholder actions, and monitoring critical events, AI promises to reshape the industry, ultimately leading to enhanced retail experiences.
Check back with GlobeSt.com for more from the upcoming ICSC event and click below for other relevant retail stories you might have missed.
ICSC Las Vegas Kick Off: Unveiling the Latest Insights from Retail Powerhouses
NYC-Based ASG Equities Completes Miami Retail Sale