CHICAGO-The retail market is coming back from therecession-caused trough, with tenants interested in expandingagain, according to many of the attendees at National Real EstateInvestment Trust’s REITWeek here. However, development will beconsiderably off from the past 10 years, they said.
“I’d say we saw about 40 new regional malls built in the pastdecade, with us doing nine of them,” said Robert Taubman, chairman,president and CEO of Farmington Hills, MI-based Taubman Cos. “I’dsay you’re only going to see 15 new malls in the next 10 years. Wewant to build almost half of them.”
Taubman was joined by other retail REIT executives in sayingthat retail is starting to see a return to a tenants market. OtherREIT presenters included Macerich, Simon Property Group, RegencyCenters, Agree Realty Corp., Kimco Realty Corp. and Hammersonplc.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
