As the retail real estate industry’s big show gets underway in Las Vegas, there are some concerns for the sector hanging in the air. Store closings, troubled properties and other factors are casting a shadow as thousands of attendees and exhibitors head to ICSC’s RECon to talk about the industry’s future and, more importantly, to try and cut some deals.
“It’s a very important convention this year, with retail at an inflection point,” says Marcus & Millichap CEO Hessam Nadji. “There has been a lot of negative media, some of it is legitimate but other coverage has been over-sensationalized. I don’t want to underestimate the pain. There will be stores that don’t make it. But, if ecommerce is displacing all retail, why is TJ Maxx doing well? Why are there outlets doing well?”. . . more