Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/231459
FORTUNE TELLERS InDuSTry execuTIveS from arounD The globe SPeculaTe abouT WhaT'S In STore for The year aheaD By Joel Groover A 014 2 S ThEy LOOk TO ThE yEaR ahEad, ShOppiNg center leaders around the world are optimistic about economic fundamentals, as well as about the opportunities presenting themselves in dense urban areas and in fast-developing economies such as China and Brazil. in the mature markets of the U.S., Canada and Europe, owners and leasing agents foresee rising rental rates as expanding chains vie for ideal locations, which are growing scarce amid the lack of new construction. "There isn't any substantive need for more retail space in the United States, unless you're talking about an in-fill site that is underserved," said Joe dykstra, an executive vice president at Westwood Financial Corp. "as owners of a large portfolio of retail properties, we like that there is not much new development. Obviously, less competition is good for both occupancies and rent growth." But industry leaders also point to challenges, such as stiff competition from the likes of amazon.com and eBay, both of which are racing to roll out same-day delivery. as experts see it, the technology wild card will continue to spur retailers to hone their omni-channel and social-media strategies, and smaller tenants in particular will continue to need strategic help with this from their landlords and property managers. given the jitters about rising online sales, experts say, demand will remain strong for internet-resistant restaurants, 36 SC T / J a n u a r y 2 0 1 4