REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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ICSC San Antonio event a success

ICSC Tx confAccording to Rick Carduner, President of Carduner Commercial and the Texas State Director for the International Council of Shopping Centers (ICSC), the Texas Conference & Deal Making event held earlier this month in San Antonio was a success.  At just under 2,800, attendance was approximately 30% off last year – thanks to the softer economy – but Carduner said that the San Antonio convention outperformed other recent ICSC events in other cities. 

The main mall area in the Henry B. Gonzales Convention Center was larger this year than last year and booths were sold out.  Attendee Keith McRee, CCIM, Vice President, REOC Partners, observed that that there weren’t too many retailers in attendance but the ones that were there were active.  Most of the national retailers were looking at late 2010 or 2011 for new store openings which he forecasts will cause activity to slowly increase towards the later part of next year.  McRee shared that one of the  main concerns that continues to slow the market is the lack of ability to secure capital – not just for the developer looking for construction financing but for retailers looking for funds to open additional locations or increase inventory and landlords needing capital to fund tenant improvements.  Until the lending environment reaches some level of normalcy, the retail market can not move forward in earnest.  “Most of the brokers and developers that I visisted with seem to think that we have another six to twelve months of a slow road ahead of us and I agree,” McRee said.

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