Find Real Estate Agents and Homes for Sale


Real Estate News --> New York News

What to Expect at ICSC’s New York Deal Making Show


At next week’s International Council of Shopping Centers (ICSC) New York Deal Making Conference ... product demonstrations to showcase the newest developments in retail real estate technology. These include facial recognition-based loyalty programs ...


Archived Story

There also is an increase in square feet sold this year, to 206,000 sqftfrom 175,000 sqftlast year, featuring 517 companies, up from 500 in 2016, according to ICSCThe event also will host, for the first time, an Innovation Lounge with interactive product demonstrations to showcase the newest developments in retail real estate technologyThese include facial recognition-based loyalty programs, holographic retail displays and more. JLL is planning to bring 135 employees this year, up from approximately 100 last year, says Greg Maloney, CEO of retail at JLLPart of this increase stems from JLL’s decision to bring more employees from across the country, rather than just those from the East Coast, as New York has developed into more of a national business, he notes. Within JLL, there had been concerns as to whether there would be as many retailers than in previous years, given the concerns facing the retail industry this year relating to store closings and ecommerce, Maloney saysSo far this year, there have been more store closings than everRetail landlords have increasingly turned to non-retail uses, like apartments, to fill their propertiesFor this year’s post-Thanksgiving sales, 51.6 million consumers shopped only in-store, but 58.4 million only shopped online, according to the National Retail FoundationClose to 65 million people shopped both in-store and online. However, those fears have so far proven unfounded, Maloney says“It’s not the case now,” he says, adding, “We’re sending our full contingency of people to New York.” For the JLL crew, the conference serves as a way to tie up loose ends while setting their sights on 2018, trying to match retailers’ needs to what they have available for the upcoming year, Maloney says. And for Maloney, the persistent headlines of an impending “retail apocalypse” are exaggeratedWith 2018 around the corner, many of the trends in retail real estate from this year will continue to hold true, he notesFor example, consumers still want two main things when they shop: value—such as that found in many fast-fashion brands—and experienceMaloney says that bringing different uses and experiences to shopping centers—particularly food and beverage—continue to bring more people to those centers to stay longerA focus also will be looking at alternative uses like healthcare and hotels, he adds“It’s actually a very exciting time for us, because we’re transforming a lot of our properties into the properties of the future,” Maloney says. Geoff Millerd, executive managing director at Newmark Knight Frank, also believes that the stories of a retail Armageddon are overblownWhile there are some sectors, such as class-B malls and some of their tenants, struggling, the sentiment is not true for allFor example, Millerd and his team remain bullish on open-air strip centers“It’s not necessarily applicable to the entire retail industry,” he adds. News of the struggles in retail have sent waves of panic among institutional investors, but open-air centers, Millerd notes, remain vibrantThis comes as these centers shift their reliance on traditional fashion retailers to other uses, such as food and fitnessDiscount retailers, such as TJ Maxx and Home Goods, also are performing well in the space, he addsAnd while e-commerce continues to grow, Millerd says many online sales are coming from brick-and-mortar retailers that are evolving their platforms“It’s really a maturation of our industry,” he notes. TAGS: News Leasing 0 comments Hide comments Comment * More information about text formats Text format CommentsPlain text CommentsAllowed HTML tags: <em> <strong> <blockquote> <br> <p>Plain textNo HTML tags allowed.Web page addresses and e-mail addresses turn into links automatically.Lines and paragraphs break automatically. PublishLog in or register to comment Home page Save RelatedBuoyed by Millennials and Omnichannel, Holiday Sales Off to Strong StartNov 30, 2017With Beer and Beard Wax as Bait, Target Lures Guys to Its StoresNov 30, 2017Retailers’ Five-Day Holiday Scramble Divides Haves and Have-NotsNov 29, 2017Activism and Re-Awakened Value Hunting Sparks Private Investor Interest in Mall REITsNov 28, 2017 Load More Next Article Previous Article About Us Contact Advertise Subscribe Ad Choices Sitemap Privacy Policy Terms of Service Follow us:

Trending New York News:


  • The Real Estate Community Is Key to Solving New York’s Homelessness Crisis
  • Zillow buying StreetEasy for $50 million
  • A New York real estate heir charged with murdering a friend in Los Angeles told a prosecutor he never fled because of inertia
  • Silver, Bharara decline comment on probe report
  • Philadelphia real estate investors separate
  • Bank Downgrades Won’t Impact CRE Lending—Yet
  • NYC company buys Arbella Insurance headquarters in Quincy for $26 million
  • BRIEF-Xinyuan Real Estate announces new project in New York
  • Overvalued Zillow; Energy Troubles: Cramer's Best Blogs
  • Eastern Consolidated Markets 15-Building Industrial Portfolio for $97M
  • Real (estate) power
  • New York City’s Market-Rate Rental Inventory Set to Swell
  • Zucker Proud To Win Award Named After Friend
  • New Yorkers' optimism about real-estate market hits 3-year high
  • Accounting Firm Takes 85,460 Square Feet at 685 Third
  • New Real-Estate Search Tool Sparks Backlash
  • As N.Y. Luxury Real Estate Dips, Bargain Hunting on "Billionaire's Row"
  • Greystone Welcomes Andrew Warren to Affordable Housing Preservation Group
  • These 14 real estate deals are nominated for REBNY awards
  • Strengthening the Hospital/Real Estate Bond