LAS VEGAS—Don't confuse a challenged property with a distressedone. So said panelist Erik Christopher, broker ofDavid, Hicks & Lampert Brokerage LLC, during asession titled “Acquiring and Then Revitalizing a ChallengedCenter,” on Monday at ICSC's RECon event here in Las Vegas.
“The key in looking at revitalization is opportunity,”Christopher said. “You have to look at property, understand themarket it's in and understand what the center may have been orcould be.”
Moderated by Sean Burke, principal ofS.T. Burke Retail Partners, panelists were askedwhether “challenged” was a fair description to describe these typesof retail centers. Panelists said that while accurate—since many ofthese types of centers have their challenges—value-addopportunities provide a more positive view.
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