{"id":1004096828,"date":"2014-05-20T08:35:49","date_gmt":"2014-05-20T16:35:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004096828"},"modified":"2022-12-08T17:32:35","modified_gmt":"2022-12-09T01:32:35","slug":"recon-special-report-retailers-seek-new-horizons-amid-redevelopment-investment-buzz","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/recon-special-report-retailers-seek-new-horizons-amid-redevelopment-investment-buzz\/","title":{"rendered":"RECon Special Report: Retailers Seek New Horizons Amid Redevelopment, Investment Buzz"},"content":{"rendered":"<p>By Paul Rosta, Senior Editor<\/p>\n<p>As thousands of real estate professionals swarmed the vast exhibition halls of the Las Vegas Convention Center for RECon on Monday, executives paused briefly from the hectic activity to take stock of the show and the retail sector as a whole.<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004096830\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/recon-special-report-retailers-seek-new-horizons-amid-redevelopment-investment-buzz\/recon-1_may19\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg\" data-orig-size=\"2304,1296\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon VIXIA HF200&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1400423276&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;6.96&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0.033333333333333&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Recon 1_May19\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?w=1024\" class=\"alignright size-medium wp-image-1004096830\" alt=\"Recon 1_May19\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg\" width=\"300\" height=\"168\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg 2304w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=300,169 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=768,432 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=1024,576 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=1536,864 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=2048,1152 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=150,84 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=696,392 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=1068,601 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=1920,1080 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/Recon-1_May19.jpg?resize=747,420 747w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>\u201c\u2019Upbeat\u2019 is very overused, but I don\u2019t know how (else) to describe it,\u201d James Cory, senior vice president for West Coast retail leasing with Forest City Enterprises, said of the International Council of Shopping Center\u2019s annual spring event, which is expected to draw upwards of 30,000 attendees before concluding today. In a sign the firm\u2019s own robust renovation program, all five of the properties Cory represents in California are getting significant upgrades, he noted.<\/p>\n<p>When it comes to development, much of the conversation at this year\u2019s RECon seems to be revolving around redeveloping existing properties. \u00a0Yet there are noteworthy exceptions. \u201cOutlet centers is probably the one growth vehicle from a growth standpoint in the retail industry,\u201d explained Stepehn Coslik, CEO of the Woodmont Co. The firm\u2019s development pipeline includes the Outlets at Alliance-Fort Worth, a 350,000-square-foot project outlet center that is scheduled to open in the fall of 2015.<\/p>\n<p>Coslik also confirmed a new willingness among retailers to venture into markets beyond the major metropolitan areas. \u201cTJ Maxx is going into markets in Oklahoma that they never would have gone into before because they\u2019re too small,\u201d he said. But demand from consumers in smaller markets, coupled with smaller formats that make it practical to open stores in smaller formats, is drawing retailers into new locations, he explained.<\/p>\n<p>Regarding the hot net lease retail sector, Stan Johnson Co. executive managing director &amp; national sales manager Harold Briggs commented, \u201cThere is an insatiable appetite for product. There\u2019s not a lot of product out there.\u201d That hunt for product is prompting investors to seek out some relatively unconventional retail assets, such as auto dealerships, movie theaters and specialty grocers, Briggs noted. A surge in 1031 exchanges is sending capital into the market, and competition is particularly keen for properties valued between about $1 million to $3 million, the most affordable range for many individual investors.<\/p>\n<p>Amid the buzz of countless potential deals, industry veterans detected an underlying note of caution. \u201cIf you peeled away the onion, I think people are still trying to figure out where we\u2019re going,\u201d said Coslik. The question, he says, is \u201cIs it a real sustained recovery?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As thousands of real estate professionals swarmed the vast exhibition halls of the Las Vegas Convention Center for RECon on Monday, executives paused briefly from the hectic activity to take stock of the show and the retail sector as a whole.<\/p>\n","protected":false},"author":445,"featured_media":1004096830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21783,21742,21785],"tags":[39450],"class_list":["post-1004096828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-investment","category-latest","category-property-management","tag-las-vegas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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