SAN DEIGO—“Values are at historic levels, although buyers are getting much more selective.” That was according to NewMark Merrill CEO Sandy Sigal.
GlobeSt.com was in attendance at the firm's party following Wednesday's ICSC Western Division and Deal Making conference, where Sigal noted that “the climate in retail is schizophrenic.”
Sigal explained that interest rates are at all time lows, but banks are touch lenders in this environment, and insurance companies are out of money for the year. “And the number of tenants in the marketplace has dramatically been reduced by either consolidation, bankruptcy or just a desire to let same store sales get some momentum. In our world, that means owning the No. 1 center in each market, supporting our tenants with technology and marketing and making sure our communities and shoppers feel welcome.”
Keep checking back with GlobeSt.com for more retail coverage from the event.
SAN DEIGO—“Values are at historic levels, although buyers are getting much more selective.” That was according to NewMark Merrill CEO Sandy Sigal.
GlobeSt.com was in attendance at the firm's party following Wednesday's ICSC Western Division and Deal Making conference, where Sigal noted that “the climate in retail is schizophrenic.”
Sigal explained that interest rates are at all time lows, but banks are touch lenders in this environment, and insurance companies are out of money for the year. “And the number of tenants in the marketplace has dramatically been reduced by either consolidation, bankruptcy or just a desire to let same store sales get some momentum. In our world, that means owning the No. 1 center in each market, supporting our tenants with technology and marketing and making sure our communities and shoppers feel welcome.”
Keep checking back with GlobeSt.com for more retail coverage from the event.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.