ICSC Member Profile: Traci Russell
VP of Brokerage and
Retail Services CBRE
Years with company: 2
Years as ICSC member: 12
What is the biggest issue facing shopping center real estate?
Some of the major issues shopping centers face today are lack of new tenant concepts, rightsizing of prototypes, storefronts and reconfigurations. While this list might look long and daunting, I think each of these issues come back to a central issue of retailers still trying to navigate the post-recession retail market.
How have consumer attitudes affected the retail market?
Consumers have learned to be much more frugal and value-oriented. Also, they are willing to go much longer between big-ticket item purchases. I also think that consumers will continue to look for convenience; e-commerce and the internet are ways they can achieve that convenience.
What was your most significant deal in 2013?
I’ve partnered with Scott Kaplan and Erik Westedt in Newport Beach, Calif., to provide consultative retail solutions for the 260,000 SF Westgate Entertainment District in Glendale.