Retail Development Prospects are Promising
There are no doubt challenges to deal with but, by all reports, the mood at this week’s International Council of Shopping Centers’ RECon event was upbeat as developers spoke about real estate prices moderating and the credit crunch showing signs of easing.
Stephen Kieras, senior vice president of development at Taubman, told Shopping Centers Today, “There’s no slowdown. In fact, we’re seeing a lot of opportunities come to us.” Taubman is pursuing projects both domestically and abroad.
Discussion questions: What does the upbeat mood of real estate project developers say for the retail industry moving forward? What trends (size of projects, geography, green building, etc.) do you see having the greatest impact on retail real estate development companies going forward?
My post: I am quite excited about the future of the retail industry. Significant downturns flush out weak performers and redundant concepts and allow the innovative and the strong to find great opportunities for concept development and growth. Taubman is in a unique position due to international development that helps it weather the US domestic problems. They and others will continue to invest in great projects and we will see the credit crunch ease and good deals will get done.
Mike Osorio, your Dare to be Contagious! TM strategist
Go to the full discussion at RetailWire.com:
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