RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 35,000 attendees this year, up from 32,000 in 2012 and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year's worth of business in just four days!
CBRE claimed the largest number of delegates attending with some 800 people! Its booth was revamped this year for a mere $1 million, adding a "Times Square" theme that made it THE place to be. Most of the excitement was in the high-tempo electronic boards with photos and graphics at the booth and about 7,000 sq. ft. of open meeting area with tables, refreshments, and a stage for live interviews with top clients and top managers, and numerous private, glass meeting rooms in the back with top clients and their respective logos.
News from the convention floor:
Thousands Chase Deals in Las Vegas from the CP Executive
Surging demand, new retail concepts and stirrings of new development were the talk of the Las Vegas Convention Center on Monday during the first day of RECon, the International Council of Shopping Centers' annual spring convention. It is impossible to tell how many deals will emerge from the event, but as thousands of real estate professionals roamed the vast halls of the 3.5 million-square-foot facility, participants reported a sense of renewed optimism about the market...Read more »
Retail Development Back on the Horizon from the NRE Investor
Looking for proof that the retail real estate industry is in a better place than it was even a year ago? New development is no longer a distant pipedream, but a tangible possibility as industry players begin conceiving new projects. Some companies, primarily publicly-traded retail REITs, might already be close to putting shovels in the ground as they sign up expanding retailers to go into their new centers...Read more »
Store Opening Plans are at Five-Year High, Survey Says from NRE Investor
The retailers in RBC Capital Markets’ database reported plans for 41,713 new store openings in the next 12 months, representing a five-year high in store opening plans. In the April issue of their National Retail Demand Monthly report, RBC analysts noted that “The continued strong demand by this large group of retailers comes despite fluctuations in overall consumer activity, increased payroll taxes, a modest GDP outlook and slow improvement on the employment front—another testimony to the long-term view taken by successful retailers. As such, we find little reason to suspect that planned store openings will pull back in any meaningful way in the near term"...Read more »
Reflections on RECon 2013 from Jeff Green Blog Chain Store Age
"One of the strange ironies of the 2013 convention is that - despite more bookings, a sold-out convention and more activity than we've seen in years - the conventions doesn't feel as busy as it has in years past. I suspect this is largely because three of the biggest names in the industry, Macerich, Simon, and Westfield, don't have booths at teh convention this year. Make no mistake, they are still here in Vegas - they have just moved over to Caesar's Palace. The impact on the floor traffic here at the convention proper is noticeable, and it's obvious that those three names have siphoned some people away from the convention floor. From the perspective of a convention-goes, fewer crowds are a welcome convenience, but.... Read More