I’m moderating a panel presentation for the ICSC Centerbuild conference in Phoenix, in December. After presenting this topic last year to a packed auditorium, the program committee has asked me to update it and re-present it. I’ve asked Laura Fullington, an Associate VP of Research for Macerich Corporation, and Jon Cowen, a broker from Cushman & Wakefield in Phoenix, to join me on the panel. The topic is called “Repositioning Existing Properties.”
The program synopsis is:
Very few shopping centers opened in 2010, and although the CRE world is trending in a positive direction, albeit slowly, “build-to-suit” deals continue to be more prevalent than speculative deals. Landlords and retailers alike are looking to existing properties for expansion and repositioning. What are the opportunities and what are the challenges in these “Repositioning” deals? How is the industry responding?