Live From ICSC RECon in Vegas
The International Council of Shopping Centers is hosting its largest crowd since the recession and Bisnow is in Las Vegas, bringing it to you live with some 33,000 CRE types joining in the 2013 Global Retail Real Estate Convention, known as RECon. (We'll see you a Cirque du Soleil: NNN.)
Thousands gathered around the poolside at Bellagio Sunday afternoon (we tried to get all 30,000 in the picture, but a few brokers from El Paso kept looking the other way) to celebrate the kick-off of the event.
We found tes engineerings Mandy Phelan along with Genslers Marsha Getto-Aikens there. Marsha tells us Genslers latest claim to fame: designing the new Trader Joes that will be going in at Preston Hollow.
We spottedNika and Mark Reinecke at the Bellagio. Nika, the director of economic development for the City of Lewisville, tells us the City will celebrate its 100thbirthday in 2025 and is in the midst of developing its Vision 2025 plan to strategize for land use, infrastructure, retailing, and more. (You all have 12 years to pick out a really good present for Lewisville, no excuses.)
Corinth Properties partner Terrance Maiden and owner Frank Mihalopouloswere networking at the Shopping Center Groups schmooze at the Four Seasons Sunday night. Terrance tells us the firm is promoting Glen Oaks Crossings, The Canyon at Oak Cliff, and the Avenue at Oak Cliff. The duo was looking for national and regional retailers, from anchors to junior anchors and restaurants for the new projects.
We stumbled into Houston-based Triad Retail Construction prez Jay Dorseynear the mojito station. The bulk of his projects surround four retailers: Panda Express, Sports Authority, Best Buy, and JCPenney. Three of the four firms are flush with cash and ready to expand (we bet you can guess which one isnt). A market to watch: Puerto Rico. Hes building there for both Sports Authority and Panda Express. In the past, hes built projects there for the Gap, Banana Republic, Old Navy, and the now-defunct Borders. He says sales/SF are up and most retailers are seeing their Puerto Rican locations among their top-performers.
The recession had less effect on retail store growth than youd expect. Instead, Fort Worth-based Buxtons CEO Tom Buxton says retailers learned their lessons--and those municipalities with favorable tax and business climates will see new store growth. If youre a retailer, youre not going to a place where you have inventory tax. Is it because the economy is bad or is it because the government is bad?, Tom quips. Where its easy to do business, youre seeing cities do great. We'll keep sharing who and where the business is going as on-going RECon coverage continues all week live from Vegas.