LAS VEGAS-“The overall sentiment is positive.” That was Sandy Sigal, president and CEO of NewMark Merrill Cos.' overall take on the retail market. “There is very strong demand for shopping center investments, great tenant demand—albeit at conservative rent rates—and even some development activity.”
GlobeSt.com ran into Sigal at the NewMark Merrill ICSC RECon 2013 party Tuesday night at the Hard Rock hotel in Las Vegas. Sigal also pointed out that “While sales at the center level remain fairly flat, retailers have adapted and the smart owners will provide the support their tenants need to survive in the new normal.”
Earlier in the evening, GlobeSt.com attended the Stan Johnson party, where Bradley J. Feller, director of Stan Johnson Co., said that “the activity and energy we've seen at this year's Recon conference has been palpable.” Developers' pipelines are clearly bulking up, says Feller, with tenants either ramping up new store openings or expediting those already underway.
“Investors remain aggressive in the marketplace, and while expressing some caution regarding the frothiness of cap rates, they see continued strong equity inflows which will fuel ongoing acquisitions throughout this year and into 2014.”
See photos from Tuesday night's receptions below:
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
