But the company has already started gearing up for the convention. New Plan executives have already reviewed the company's portfolio with 40 retailers looking to expand, he said during the company's recent, first-quarter conference call. "These pre-meetings improve our convention productivity," Rufrano says.

Some of the retailers the firm has met with include big boxes that already have a large national presence but want to expand even more. Linens 'n Things is making a push into Chicago, Detroit and Philadelphia, Rufrano says, and Target is looking to expand from 1,400 units to 2,010 during the next four years with its new 126,000-sf prototype. Best Buy and Marshalls are also looking for more spaces.

Others are expanding outside of their current geographic base. The Harris-Teeter grocery chain is looking to grow outside of its Charlotte, NC base further into the Southeast and the Mid-Atlantic. Christmas Tree Shops is exploring opportunities outside of its current, Northeast store base. And Ace Hardware is making an urban-store push.

Some chains that are know for their mall locations have contacted New Plan about open-air center growth. American Eagle Outfitters, Kay Jewelers and Justice are some of the retailers Rufrano mentioned that are looking for those opportunities.

He also mentioned the seeking of outparcel spots by such tenants as California Pizza Kitchen, Chipotle and Starbucks. Banks and wireless providers are also looking for spots, Rufrano says.

New Plan Excel Realty Trust owns about 475 properties throughout the United States. The firm is currently focused on redeveloping its portfolio.

Instant Insights /

New Plan Expects Big Convention

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