Kevin May
Director, GRS Group
(310) 614-9329
[email protected]
This week part of the GRS Group team will attend one of the largest annual retail real estate events in the country, the International Council of Shopping Centers’ Western Division Conference, in Los Angeles.
Aside from the usual networking opportunities with old and new clients, there are some specific educational sessions that our associates will have their eyes on.
Those attending the conference on Monday will have the chance to gain some intel on leasing open-air centers from Richard Wolf, senior vice president of leasing at Madison Marquette. He will discuss leasing to new tenants and retaining current users in today’s environment. Attendees will reportedly “learn how to avoid the pitfalls of leasing to the wrong retailer, escape the boring repetitiveness of current trends, and create something truly sustaining.” Madison Marquette executives have built several innovative projects across the country, the newest being The Warf on the Washington D.C. waterfront, which will open later this month.
On Tuesday, people won’t want to miss one of the best point guards in the history of the NBA speak. Magic Johnson, who is now CEO of Magic Johnson Enterprises, has plenty of experience in the retail real estate industry. Always insightful, Johnson will likely touch on his partnership with Starbucks, which has brought the coffee giant to more than 100 locations in urban cores. He has a similar program with 24 Hour Fitness and operates a handful of Magic Johnson Theatres in major metro areas in other efforts to transform inner-city consumer options.
After that, there will be a session on the future of retail real estate financing, hosted by Gary Mozer, CEO of George Smith Partners, who will tell attendees how different lenders are “adjusting through pricing, structuring and underwriting different retail assets.”
At the same time, a team of panelists from CBRE, Federal Real Estate Investment Trust, NewMark Merrill Cos. and REZA Investment Group will discuss how to get transactions done despite “shifting retailer strategies, the introduction of disruptive technologies, changing lender requirements, and evolving consumer patterns,” among other factors.
If you’re sticking around on Wednesday, it’s a good idea to hit the Retailer Runway, which will have presentations by about 20 retailers that are in expansion mode. After all, strong tenants are the lifeblood of strong commercial real estate assets. Knowing their plans gives a glimpse of retail real estate’s future.