{"id":1004178090,"date":"2017-05-26T03:40:59","date_gmt":"2017-05-26T11:40:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004178090"},"modified":"2022-12-02T23:17:27","modified_gmt":"2022-12-03T07:17:27","slug":"top-execs-at-recon-weigh-in-on-retails-prospects","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-execs-at-recon-weigh-in-on-retails-prospects\/","title":{"rendered":"Top Execs at RECon Weigh In on Retail&#8217;s Prospects"},"content":{"rendered":"<p>By Paul Rosta<\/p>\n<div id=\"attachment_1004178093\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004178093\" data-attachment-id=\"1004178093\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-execs-at-recon-weigh-in-on-retails-prospects\/20170522_115807_1495496102747_resized\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg\" data-orig-size=\"810,620\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"20170522_115807_1495496102747_resized\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Some of the 30,000-plus professionals pursing deals at RECon.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg?w=810\" class=\"size-medium wp-image-1004178093\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg\" alt=\"Some of the 30,000-plus professionals pursing deals at RECon.\" width=\"300\" height=\"230\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg 810w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg?resize=300,230 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/20170522_115807_1495496102747_resized-e1495572327135.jpg?resize=768,588 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004178093\" class=\"wp-caption-text\">Some of the 30,000-plus professionals pursing deals at RECon at the Las Vegas Convention Center.<\/p><\/div>\n<p><strong>Las Vegas<\/strong>\u2014Though making deals is the main mission for the 30,000-plus RECon attendees hustling through the Las Vegas Convention Center this week, the state of the industry is also very much on the mind of those professionals. In conversations Monday at the International Council of Shopping Centers\u2019 annual spring convention, senior executives offered perspectives that went well beyond the alarming headlines that have often surrounded the retail sector of late.<\/p>\n<p>\u00a0\u201cWe knew that department stores were going to struggle,\u201d said Greg Maloney, CEO of JLL Retail, which sent 300 people to RECon, a record for the company. \u201cWhat we didn\u2019t anticipate was the negativity surrounding brick-and-mortar retail as opposed to online.\u201d The irony, he noted, is that many retail real estate fundamentals remain sound. As Maloney sees it, a major challenge for retail real estate is conveying a realistic picture of the sector, and getting across the message that \u201cWhat you read and what you hear is not always 100 percent accurate.\u201d<\/p>\n<p>In the meantime, JLL has successfully executed its years-long strategy of growing its footprint in tenant representation, agency leasing and investment sales. That initiative both builds on and complements its longtime high profile in property management, Maloney explained. \u00a0<\/p>\n<p>Some executives insisted that bad headlines create even greater opportunity in the right niches. \u201cI love the negative news,\u201d said a cheerful Joe Cosenza, vice chairman of The Inland Real Estate Group Inc. and president of its Inland Real Estate Acquisitions, the company\u2019s lead affiliate on the buy side. \u201cI concentrate on grocery-anchored, and there is almost no negativity about grocery anchored.\u201d He likes to call the category \u201cAmazon killers,\u201d because consumers like to be hands-on about buying groceries, making it less susceptible to online sales than other retail categories.<\/p>\n<p>When investors are spooked by troubling headlines, they start playing a game of wait-and-see on the entire sector, not just the niches that are having troubles, he explained. That leaves the field open to aggressive buyers. Consenza sums up his mindset as \u201cGet out of the way and let me buy.\u201d<\/p>\n<p>While acknowledging the well-documented challenges particularly facing the traditional enclosed regional mall, executives also pointed out the opportunity side of the equation. \u201cIn general, it\u2019s one of those periods where there\u2019s disruption in a product type,\u201d noted Avison Young chairman &amp; CEO Mark Rose. \u201cThat means an as-yet undetermined number of malls will close or be repurposed.<\/p>\n<p>&#8220;Whenever you have disruption, whenever you have fear, really smart people make a lot of money,\u201d he said.\u00a0 \u201cExperiential retail is here, and people need to focus on it, and people need to find a way to drive traffic.\u201d<\/p>\n<p>\u00a0\u201cThis too shall pass, but (retail) clearly will look different,\u201d Rose predicted. Today\u2019s challenges will be \u201ctackled retailer by retailer and investor by investor.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leaders from JLL, Inland Group and Avison Young offered insights into the challenges, opportunities and misconceptions that mark retail real estate.<\/p>\n","protected":false},"author":445,"featured_media":1004178093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749],"tags":[33022,34543,35312,32796],"class_list":["post-1004178090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","tag-avison-young","tag-inland-real-estate-acquisitions-inc","tag-inland-real-estate-group","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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