Cushman & Wakefield
Years with company: 2
Years as ICSC member: 9
What is the biggest issue facing shopping center real estate?
We’ve seen a few larger tenants close or downsize their business due to the competition of internet sales and a decrease in consumer spending. This left many big boxes available with little business options to backfill the spaces.
How have consumer attitudes affected the retail commercial real estate market?
Consumers have moved to online shopping, which is one of the reasons for the downsize in business size as well as store closings. Locally, we’ve seen an increase in adaptive re-use projects due to the consumers moving to in-fill areas and wanting a unique experience while shopping/dining.
What was your most significant deal in 2013?
The deals we’re doing in Fiesta Mall. It’s significant because I’ve never leased a mall before…leasing mall space during the holiday season has been a great learning experience.