Shopping Centers Today

SEP 2018

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

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S E P T E M B E R 2 0 1 8 / S C T 51 his team built up under Blackstone. "Our trademark is the capability to turn around schemes, which is not so common in the market." Success has in part involved the will- ingness to pay close attention to details, Maganuco explains. Many firms follow a cut-and-paste strategy when it comes to the tenant mix, he says, but he places no confidence in that approach and tries instead to tailor each center to the needs of the local market. "If you see the schemes I have been managing the last four years, these are not [all] following the same strategy," he said. "Every scheme has its own strategy, its own tenant mix." But though the particulars of the Italian property turnarounds have been different, there has been some commonality as well, such as efforts to improve the quality of common space, Maganuco says. "e idea is basically that, in order to maximize the value of each of the schemes to increase dwell time, you need to work on the box to make it better, to make it more pleasant and to make the customer welcome," he said. ree goals are at the top of his Cen- tral European agenda: to find buyers for Multi Corp.'s assets in the region; to win the mandate to keep operating some of those centers; and to scout around for new center management clients — investors interested in boost- ing the value of their properties. Maganuco is optimistic about that last point, noting that there are lots of transactions in the CEE market right now. "is creates opportunities, because when there are transactions, there are new owners," he said. "ey may be interested in having a new property manager." n Retail is dynamic; retail is not 'stable' — you need to continually adapt the content and the shape of the scheme Forum Gdansk, Gdansk, Poland Max Poprad in Poprad, Slovakia

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