Optimistic Retail Forecast at ICSC New York
WDCEP staff attended the New York ICSC National Conference earlier this month, on December 5th and 6th. The conference, which took place in New York City, attracted over 6,600 attendees. The event is the second largest annual industry gathering, aside from ICSC RECon which occurs every year in Las Vegas. Retail real estate brokers were in good spirits as the deal-making got underway on Monday with networking and a keynote address from New York City Mayor Michael Bloomberg. Mayor Bloomberg outlined the importance of retail to the city’s economy, described some of the recent lease signings and openings of major retailers, and talked of other possible development opportunities. Keynote luncheon speaker David Henry, President and CEO of Kimco Realty Corporation, discusses the significant challenges facing the retail real estate industry, including a lesser sales tax on internet shopping. Henry ended on a positive note, sharing his thoughts on the retail market showing strong signs of bouncing back, despite other challenges in the economy.