{"id":1004053939,"date":"2012-12-04T13:48:28","date_gmt":"2012-12-04T21:48:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004053939"},"modified":"2022-12-07T21:56:17","modified_gmt":"2022-12-08T05:56:17","slug":"icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\/","title":{"rendered":"ICSC Special Report: Executives Welcome Internet as Friend, Not Foe, to Brick &amp; Mortar Retail"},"content":{"rendered":"<p><em>By Paul Rosta, Senior Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004053936\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\/icsc-december-2012-008\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg\" data-orig-size=\"2056,1019\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"ICSC December 2012 008\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004053936\" title=\"ICSC December 2012 008\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg\" alt=\"\" width=\"300\" height=\"148\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg 2056w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=300,149 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=768,381 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=1024,508 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=1536,761 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=2048,1015 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=150,74 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=696,345 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=1068,529 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=1920,952 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=847,420 847w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=324,160 324w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg?resize=533,261 533w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>As hundreds of owners, retailers and brokers from around the country hustled to close deals on the final day of the International Council of Shopping Centers\u2019 annual fall conference in New York City, retail real estate leaders were weighing in on the broader challenges and opportunities facing the industry.<\/p>\n<p>Internet shopping was one of those issues that commanded the attention of several executives during Monday\u2019s opening general sessions. Several leaders argued persuasively that Internet shopping constitutes a new phase rather than a threat to retail.<\/p>\n<p>\u201cWhat we\u2019re seeing is not the death of the brick-and-mortar retailer, but a new age and a strengthening,\u201d said Brad Hutensky, president &amp; principal of Hutensky Capital Partners and ICSC\u2019s current chairman.<\/p>\n<p>Strong retailers are using online shopping as an alternative channel to complement traditional in-person sales, he explained. \u201cThe great retailers are going to sell more in their stores and they\u2019re going to sell more on the Internet,\u201d he added.<\/p>\n<p>The roles of traditional and digital shopping channels also figured in the comments of Richard Baker, chairman of Lord &amp; Taylor and of Hudson Bay Co., the venerable Canadian department store. A study of Lord\u00a0 &amp; Taylor customers suggests a complementary relationship between online and in-person shopping. \u201cWhat it showed very clearly was that 95 percent of all our Internet business comes from this perfect five-mile circle around our stores,\u201d said Baker, who is also a principal in National Realty &amp; Development Corp.<\/p>\n<p>Baker estimates that those online transactions will yield $80 million worth of increased revenue to the Lord &amp; Taylor and Hudson Bay chains over the next five years.\u00a0 \u201cThe department store industry is greatly enhanced by the online shopping experience,\u201d he added. \u201cWe\u2019re not frightened of the Internet. It\u2019s a great opportunity and a great growth vehicle for us.\u201d<\/p>\n<p>Meanwhile, retail real estate professionals reported a steady stream of deals and serious inquiries emerging from the thousands of meetings at the two conference venues, the Hilton New York and the Sheraton New York Hotel &amp; Towers in Midtown Manhattan. Kris Cooper, managing director of Jones Lang LaSalle Inc.\u2019s retail capital markets group, reported a major change in the tone of conversations with investors since ICSC\u2019s Dec. 2011 event. \u201cThe indication I have heard from several buyers is that they are looking at deals they would not have looked at a year ago,\u201d said Cooper.<\/p>\n<p>Pent-up investor demand, inadequate supply and more realistic seller expectations about pricing are generating interest in a wider variety of retail assets. He cited the example of a five-property portfolio he is marketing that consists of two regional malls and three anchored open-air strip malls. The assets range in quality from A minus to low B, Cooper noted. On Monday, Cooper spoke to an investor client who would have passed on the portfolio a year ago, but indicated that he will give the assets a serious look.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As hundreds of owners, retailers and brokers from around the country hustled to close deals on the final day of the International Council of Shopping Centers\u2019 annual fall conference in New York City, retail real estate leaders were weighing in on the broader challenges and opportunities facing the industry.<\/p>\n","protected":false},"author":952,"featured_media":1004053936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11,1600,21742,21749],"tags":[],"class_list":["post-1004053939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-midatlantic","category-new-york","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ICSC Special Report: Executives Welcome Internet as Friend, Not Foe, to Brick &amp; Mortar Retail - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICSC Special Report: Executives Welcome Internet as Friend, Not Foe, to Brick &amp; Mortar Retail\" \/>\n<meta property=\"og:description\" content=\"As hundreds of owners, retailers and brokers from around the country hustled to close deals on the final day of the International Council of Shopping Centers\u2019 annual fall conference in New York City, retail real estate leaders were weighing in on the broader challenges and opportunities facing the industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-04T21:48:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:56:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/ICSC-December-2012-008-e1354657599153.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2056\" \/>\n\t<meta property=\"og:image:height\" content=\"1019\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/icsc-special-report-executives-welcome-internet-as-friend-not-foe-to-brick-mortar-retail\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"ICSC Special Report: Executives Welcome Internet as Friend, Not Foe, to Brick &amp; 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