NEW YORK CITY-Shopping center investors—or potential investors—are about to get much more data on the health of such properties. Trepp LLC announced Wednesday that it has partnered with the International Council of Shopping Centers to produce an analysis of shopping centers in the US.
Under the new arrangement, ICSC members can get a report comparing their properties to centers nationwide, ICSC spokesman Jesse Tron tells GlobeSt.com. In addition, Trepp now will be able to add member centers to its database, strengthening the organization’s reports.
“This is good for both sides,” an ICSC spokesman tells GlobeSt.com. “It gives Trepp a new audience for a lot of its data and, for ICSC members, it gives them data to help position their assets.” The new data will be available to ICSC members beginning in mid-April.
The two organizations were already working together. Since 2009, ICSC has maintained access to Trepp’s monthly US mall performance report in order to get information to its 58,000 members. That report, among other data, provides a glance at sales per-square-foot analysis.
This new collaboration was the next logical step for the two organizations, says Trepp CEO Annemarie DiCola in the announcement. “This was a natural extension of the relationship between our organizations,” she asserts. “Having forged a relationship over the last several years, the value proposition of developing this analysis was a logical next step.”
For ISCS, the arrangement offers the organization a big perk for existing members as well as a selling point for potential members. “We are excited about this collaborative effort between Trepp and ICSC because of two factors,” said ICSC President and CEO Michael Kercheval. “Both the scope and the flexible delivery of this research and analysis will be an unprecedented value-add for our membership,” he says.
Basic reports will come with ICSC membership and will be provided online in an on-demand fashion. More detailed information stemming from these customized research efforts will be available for purchase from Trepp, says the ICSC spokesman.