FirstPro Going International

The full-service development firm, which has more than 175 shopping locations throughout Canada, said it has been acquiring property in several countries to help aid the expansion of large retailers with international strategies. As part of the second phase of its 10 year plan, FirstPro said its international development team will began opening offices in each international market and partner with local experts in a bid to bring some of the world's biggest names in retailing into the international arena.

"This is the natural next step--FirstPro as an international one-stop network of shopping centers to service the world's strongest retailers--that is the goal" Mitchell Goldhar, president and CEO of FirstPro said in a statement announcing the company's plans.

The private retail development company said it has been methodically positioning itself in the largest markets with the strongest economic growth in a bid to tap into opportunities for retailers. The North American, European and Asian markets provide those opportunities, the firm noted. With high retail sales growth, a high concentration of international retail activity and environments that encourage foreign investment, those markets have drawn the interest of several top retailers who are eager to expand, the company said.

"We believer there is a role for us to play," Goldhar says.

If the fast pace of international retail growth is any indication, First Pro may be on to something. Currently, the world's top 250 retailers have established a presence in 135 countries and the numbers appear to be growing. Of those retailers headquartered in the United States, 56% have international operations, a 12% increase in the past five years. And net sales from international retail divisions made up 25% of the more than $1.3 trillion in net sales generated by the world's top 25 retailers.

To achieve its international development goals, FirstPro said it intends to build on its relationships with more than 30 of the world's largest retailers by partnering with them in international markets that have the greatest potential for future growth.

First Pro specializes in large-scale, value-oriented shopping centers. Typical anchors of First Pro centers include grocery retailer Loblaws and big-box discount retailer Wal-Mart.