Shopping Centers Today

SEP 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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The 11,000-acre Lake Nona mixed-use community, in Orlando, Fla. T H E C O M M O N A R E A N E W S F R O M A LL C O R N E R S O F T H E I N D U S T R Y BROOKFIELD'S FOREST CITY BUY AND OTHER BIG DEALS 8 WARREN BUFFET BETS ON SERITAGE GROWTH PROPERTIES 10 WALMART JOINS TECH FIRMS WAYMO AND ALPHABOT 14 DREAMSCAPE BRINGS VR ENTERTAINMENT TO CENTERS 16 T hanks largely to the robust U.S. economy, retail brokerage firms are in the mood to merge and go public. A prime example of the shifting industry came in June, when Cushman & Wakefield filed for an initial public offering of stock, to join its global brethren CBRE and JLL as a public company. The timing of the offering is still unknown, but the firm is seeking to raise about $1 bil- lion through it, much of which will go to paying down debt. "This has been a long time coming; they've tried this several times before, and I think now they are at the right place at the right time," said Faith Hope Consolo, chairman of retail leasing at New York City– based Douglas Elliman Real Estate. "They have prepared well and have set the path forward for success, and I am looking forward to seeing that story unfold." Earlier this year Newmark Knight Frank (Newmark Group) said it would acquire New York City–based retail brokerage firm RKF Retail Holdings, a 20-year-old independent firm special- izing in retail leasing, investment sales Mergers, consolidations, IPOs are changing the brokerage landscape By Ben Johnson In flux 6 S C T / S E P T E M B E R 2 0 1 8

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