On the Floor at ICSC in New York
Bisnow was on the scene of the ICSC New York Conference yesterday, where we snapped Urstadt Biddle Properties' James Aries, Forest City Enterprises CEO David LaRue, and ICSC CEO Michael Kercheval. You didn't buy enough PS4s, Xbox Ones, socks, Hug Me Elmos, and Monster High Dolls on Black Friday, we learned. Sales were weak this year, but retailers shouldn't fret: Overall November-December sales will be up 3.4% over last year, and 7% unemployment means more discretionary income to spend.
We also snapped Cushman & Wakefield Americas retail services leader Matt Winn, right, with NY senior director Steven Soutendijk. The top three retail stories to watch in 2014, according to Matt: the continued rise of luxury as it branches into off-prime locations (think Ulaanbaatar couture); further urbanization worldwide as people move back to cities; and a greater focus on outlets ("on fire, everywhere, every brand," he says).
Thanks to the Internet, regional luxury fashion names began desiring national recognition, JLL's (and colleague photobomb victim) Michael Hirschfeld tells us. Now they want to be multinational. That's partly why his brokerage Surge Retail sold into JLL over five months ago. In LA, Michael's enjoying watching Abbot Kinney Boulevard, where retail rents have erupted to $175/SF. Civilianaire (from the folks behind Lucky) started here and has a hot store in Manhattan, and he likes The Stronghold and TOMS Footwear's only bricks-and-mortar spots.