LAS VEGAS—A recent panel discussion at ICSC Las Vegas shed light on overlooked prospects and emerging trends in retail, highlighting the potential of enclosed malls, high-quality mall investments, and single-tenant open-air shopping centers.

Bryant "Bo" Okoroji, Founder and Managing Partner of Steerpoint Capital, emphasized the often underestimated potential of enclosed mall spaces. Despite narratives of decline, Okoroji sees these spaces as bright opportunities, citing their diversified tenant base as a significant value proposition. He pointed out the presence of mispriced risk, making such investments appealing.

Echoing Okoroji's sentiments, Vince Tibone, Managing Director and Head of US Industrial & Mall Research at Green Street, underscored the attractiveness of high-quality malls as investments. Despite concerns stemming from the economic fallout of the pandemic, Tibone noted robust demand levels and a lack of new supply over the past decade, contributing to favorable investment returns. He predicted an increase in high-quality mall trades, with major players like Simon Property Group poised to capitalize on favorable cost-to-capital ratios.