Live from the ICSC Spring Convention: Heard On The Floor
May 24, 2004 12:00 PM
You know you're at ICSC Spring Convention when you see someone standing at a urinal doing a deal on his cellphone. Here are some of the news and comments from this year's show...
John Simon, director of leasing for Taubman Centers, is proud of his company's victories in its battles against Simon Property Group to develop the Mall at Oyster Bay in Long Island, N.Y. Taubman has won four consecutive court cases brought against the development by Simon-sponsored neighborhood groups, he says. The high-end project will emulate Taubman and The Forbe's Co.'s Mall at Millenia in Orlando, Fla...
Hair salon giant Regis is working on deals to acquire cosmetology schools. The retailer already owns Vidal Sassoon, considered the creme de la creme of cosmetology schools...
Mario Dudzinski, vice president of real estate for Short Hills, N.J.-based Garden Commercial Properties, says his firm isn't seriously considering acquisitions at this time, even though some competitors are fighting over available properties. "No one sells a good shopping center. But if you've got a dog or you know a tenant is about to pull out, you'll probably put it up for sale."...
Madison Marquette announced plans to redevelop International Marketplace, a 125,000-square-foot , open-air center in Honolulu's Waikiki district, on behalf of its owner , The Queen Emma Foundation. The $100 million redevelopment will be underway next year, to be completed by late 2007 or early 2008...
At the convention soirees Sunday night, three separate party goers said there is nowhere to grow in metro Atlanta, yet Cousins Properties revealed plans for a new Avenue project, dubbed Avenue Webb Gin Corners, in Gwinnett County, Ga. Also on Monday, Forum Development Group disclosed plans for a 1.5 million-square-foot mixed-use development in Alpharetta, Ga. The Cousins development will have up to 363,000 square feet of retail space...
Doron Valero, president and chief operating officer of Equity One, on multiple bidders for grocery-anchored shopping centers. "That process of bidding is there," he said. "No doubt, if you want to get properties, you have to pay high. We're always willing to pay what it takes to get a deal done." Then he added, "But even our aggressiveness has limits."...
Ron Fullam, a senior vice president of CBL Properties & Associates of Chattanooga said mall owners are rethinking their positions, and what they build nowadays. The old mall model is outmoded. "The world has changed," he said. As fewer regional mall sites are available, more developers are tweaking their models to fit the shopper and retailers today. "There's a melding of the mall and strip center developer," he said. "There are strip shopping developers that never contacted a department store before, and now they're fair game. There is a blending. Everybody is everyone's competition now." Is that making it tough on traditional mall developers? Yes, it is. Mall developers can't take risks like smaller developers can, he said.
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