At Vegas gathering, hope grows for a retail turnaround

May 23, 2010
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cash registerThe nation's largest retail leasing confab began on Sunday in Las Vegas with a hopeful welcome from Michael Kercheval, CEO of the International Council of Shopping Centers. He gave three reasons for optimism: Consumers are more confident and less likely to hoard cash. Retail businesses are more profitable having shed expenses and underperforming stores. And there are few new shopping centers opening, meaning supply is close to demand. About 30,000 people were scheduled to attend the annual deal-making event, at which developers recruit tenants for their buildings and retailers eager for growth find spots to open in multiple markets. Stay tuned to Property Lines through Tuesday for updates on retail deals in Indianapolis.

There are other signs of a retail turnaround. Earnings reports from most publicly traded retailers have exceeded analyst expectations. And a survey of more than 100 retail executives by CB Richard Ellis found that 92 percent of retailers are planning to increase the number of new-store openings in the next few years. About 70 percent are feeling more confident about the economy. “The general sense is that the activity is certainly much more vibrant than it was last year at this time,” said Donna Hovey, vice president of retail in CB’s Indianapolis office. “What everyone is sort of bracing themselves for is: Is it real?”

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  • Double down
    Cory,
    Remember this:
    Double down on all 11s and split 7s and you'll have a productive trip.
  • Couldn't bring myself to go this year...
    Most people don't go to RECon for the speakers but man, hiring Sarah Palin as opening speaker? I knew I would have to pass this year. But best of luck to SPG, KRG and the usual local suspects for bringing home some retail deals.

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  1. Really, taking someone managing the regulation of Alcohol and making himthe President of an IVY Tech regional campus. Does he have an education background?

  2. Jan, great rant. Now how about you review the report and offer rebuttal of the memo. This might be more conducive to civil discourse than a wild rant with no supporting facts. Perhaps some links to support your assertions would be helpful

  3. I've lived in Indianapolis my whole and been to the track 3 times. Once for a Brickyard, once last year on a practice day for Indy 500, and once when I was a high school student to pick up trash for community service. In the past 11 years, I would say while the IMS is a great venue, there are some upgrades that would show that it's changing with the times, just like the city is. First, take out the bleachers and put in individual seats. Kentucky Motor Speedway has individual seats and they look cool. Fix up the restrooms. Add wi-fi. Like others have suggested, look at bringing in concerts leading up to events. Don't just stick with the country music genre. Pop music would work well too I believe. This will attract more young celebrities to the Indy 500 like the kind that go to the Kentucky Derby. Work with Indy Go to increase the frequency of the bus route to the track during high end events. That way people have other options than worrying about where to park and paying for parking. Then after all of this, look at getting night lights. I think the aforementioned strategies are more necessary than night racing at this point in time.

  4. Talking about congestion ANYWHERE in Indianapolis is absolutely laughable. Sure you may have to wait in 5 minutes of traffic to travel down BR avenue during *peak* times. But that is absolutely nothing compared to actual big cities. Indy is way too suburban to have actual congestion problems. So please, never bring up "congestion" as an excuse to avoid development in Indianapolis. If anything, we could use a little more.

  5. Oh wait. Never mind.

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