2011 ICSC Observations - Part One

We’ve come a long way since 2008-09 and this years ICSC conference is a poignant reflection. The attitude is the most positive in years. Last years notions of “nearing the light at the end of the tunnel” have progressed to reality.

Here are some key observations from the floor:

• The industry is the most bullish it has been since the Great Recession. Investors have renewed optimism and construction progresses.

• Attendance is up. As one attendee observed, “The reason they allowed people to use the overpass to walk between exhibit halls was because no one wanted to jump off into traffic this year.”
• People are talking about real deals; tenants actively pursuing new sites and development opportunities (as opposed to last year, where there was cautious optimism).

• Net lease buyers are very active, they want to see everything and can't put out their capital fast enough given limited inventory.