Good retail vibrations felt at ICSC New York
by WMG Development
At ICSC’s recent show in New York, moods appeared even brighter than they did at the May show in Las Vegas, as most top developers anticipated a gift from the Fed.
On Dec. 13, Christmas came early for a retail real estate industry that’s held back on new construction. The Federal Reserve announced it would hold interest rates at their current level and promised three rate cuts for 2024.
Our very own Curt Frost, CEO, attended ICSC New York and shared his optimism about the future of retail real estate:
“We’re looking at the next 12 to 18 months as a great opportunity. There are lots of strong and durable brands looking to move into new locations, but the big ask for developers is, ‘When will you deliver?’” Frost said. “We develop at a large scale, and that reduces risk for a new tenant. The retail side of our business has been huge.”
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This article was originally published by Chain Store Age and authored by Al Urbanski on Dec. 13, 2023.