Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/231459
occupiers are buying our services differently," Buono said. "They aren't buying for tenant representation as much on the local scene anymore — they're looking for more sophisticated execution. That could be in another country, it could be in many markets within the United States, or it could be in other services not transaction-related." Firms that already offer a global presence have been beefing up their capabilities in retail specialties they have identified as growth areas. Until a few years ago, the retail properties that Jones Lang LaSalle leased or managed consisted of about 70 malls and large regional shopping centers, according to Greg Maloney, president and CEO of Jones Lang LaSalle Americas retail. Today the firm has grown that portfolio to 267 retail properties, including about 150 small shopping centers. The company has also hired about 50 retail brokers, in part to be better able to serve retail tenants as well as owners and investors in small properties. "We think the smaller deals over the next several years age going to be the way to go, because the class-A properties just aren't trading as much anymore," Maloney said. The retail real estate services providers may go about it in different ways, but all are intent upon filling an expanding advisory role. "Our enthusiasm stems from our ability to be not only competitive, but a top global adviser," said Neal Golden, who heads Newmark Grubb Knight Frank's U.S. hospitality, consumer and retail innovations group. "We have to have the resources to support our advisers as they help clients define space goals, save money and create operational efficiencies." Newmark Grubb Knight Frank has invested heavily in technology to provide retail clients with custom demographics and other market research. On the personnel side, the firm has grown its retail team by about 35 percent through hires in key markets across the country, mostly within the past year. The heavyweight firms consistently cite a large platform that crosses property types as a key to their service offerings, because this gives clients access to advisers in every property type and retail subsector. Maloney points out that mixed-use is a growing trend in urban retail projects, creating opportunities to add value through the addition of office, health care and other uses. Golden describes the idea as serving clients from supply chain to storefront. "Retailers' needs, on a more macro level, touch many different types of real estate," Golden said. "We have experts in each of the real estate disciplines, which allows us to be collaborative and address all of the needs of our customers, not just one." SCT Are You Ready For... GRAND HYATT DFW, DALLAS, TX MARCH 3 – 4, 2014 With overwhelming demand for information on single tenant real estate, this subject has blossomed into an all-encompassing, must-attend conference for many different practitioners and service providers within this niche segment of real estate. Keynote Presentation Chad Hennings Three-time Super Bowl Champion and Air Force Veteran President, Hennings Management Prinicpal, Rubicon Representation Session Topics Include: 1. Quantitative Discussion on Single Tenant Retail Real Estate 2. The Life Cycle of a Net Lease Asset – Site Selection to Development to Disposition 3. N3 – Single Tenant Lease Market Overview and Forecast All educational sessions are presented in a panel format and moderated by industry experts so they are lively and offer maximum audience involvement. Networking Reception Included Meet your fellow attendees and guest speakers. For complete program details and registration visit www.icsc.org/2014NLC J an ua ry 20 14 / SC T 47