ICSC Member Profile: Matt Morrell, De Rito Partners
VP of Leasing
De Rito Partners, Inc.
Years with company: 10
Years as ICSC member: 6
What is the biggest issue facing shopping center real estate?
The big question mark is still the economy and public policy. Small businesses are the heartbeat of the shopping center world – the mom and pops. When they feel uncertainty, it impacts our leasing world.
How have consumer attitudes affected the retail market?
While there are still question marks, there is a positive trend in consumer confidence in regards to leasing and shopping center leasing. We are seeing established businesses that have made good solid decisions in the past five years now able to take advantage of an improving marketplace.
What was your most significant deal in 2013?
Our complete turnaround on the 120,000 SF San Tan Village Furniture Center. It was a foreclosed property and 50 percent vacant when acquired in June 2012. It is now 100 percent leased and a big win in my leasing efforts.