Tag Archives: nai horizon

ICSC RECon recap: Retail evolving, enjoying a revolution

By Patrick Anthon

Since the recession, those who attend ICSC’s annual RECon Global Retail Real Estate Convention in Las Vegas have given a tepid thumbs up when the May event is over.

This year, the overall mood was very positive at ICSC. Attendance was up with more than 37,000 attendees. It is always a good sign to see people walking around with a smile on their face from one conference hall to the next.

The booths are also a good indication of how the market is doing. Many retailers and developers tend to have much larger elaborate booths when the market is doing well.

NAI Global is doing a great job bringing offices together to be more collaborative, and that was very evident at ICSC. That is especially important and helpful when referring business to another office. The strong platform allows them to can better serve a client in their local market. The NAI booth was alive with client meetings and NAI agents from across the globe.

The buzz over the Metro Phoenix market seemed vibrant. That was the sentiment shared by owners, retailers, developers, and brokers. Everybody seemed to be feeling very positive about upcoming projects and/or expansion plans and optimistic about the foreseeable future.

Landlords/developers and tenants seem to be more willing to work together in order to make each other successful instead of slowing down deals over small points. Key factors are consumer spending patterns and how we continue to see these increase over time.

Trends we’ve seen are the shifts in big box and mini major tenants. Grocery and fitness are the two strong categories that seem to be sturdy anchors in new retail developments. They drive heavy traffic for the rest of the center. With rates continuing to go up it’s tough for historical anchor tenants to consume so much square footage.

We are seeing tenants such as Target start to roll out their smaller, urban prototypes. Restaurants continue to be able to pay some of the highest rates, along with financial/banking tenants. These higher rates are more likely in the new construction projects with labor costs continuing to rise.

Overall, owners and developers are afraid of retail and shouldn’t be. There seems to be a common misconception that retail is struggling. Reports have surfaced about some of the larger department stores and sporting goods stores closing. The reality is that retail, like any other market, is evolving.

Consumers are now smarter shoppers. Millennials and Gen-X consumers factor in convenience more than ever. Shoppers want to get in, find what they need, and get out. Retailers are working to find how they can evolve, much like their customers, in order to keep up with the way people perceive shopping and shopping habits.

Restaurants continue to do great volume and lead the way in rent they can pay per square foot. A large factor to that is, once again, the Millennial and Gen-X consumers. The younger generations eat out more than ever, but they prefer a lower price-point, and quicker service.

We believe that we are not yet at the peak and that retail will continue to grow. Retail is not struggling. Instead, it is being revolutionized in order to better serve consumers’ shopping habits.

Patrick Anthon has been with NAI Horizon since 2014 and is an Associate with the Retail Properties Group. He specializes in landlord/tenant representation; retail/restaurant leasing and sales; and locating local and national retailers. Patrick provides clients with detailed property information that fit their needs.

 

 

 

NAI Horizon’s Top 10 producers have a single-minded goal

NAI Horizon’s 2016 Top 10 Producers (left to right) are Gabe Ortega, Rick Foss, Horth Hong, Isy Sonabend, Denise Nunez, Lane Neville, Shelby Tworek, Barbara Lloyd, Chris Gerow, and Russ Warner. (Photo courtesy of NAI Horizon)

NAI Horizon’s 2016 Top 10 Producers (left to right) are Gabe Ortega, Rick Foss, Horth Hong, Isy Sonabend, Denise Nunez, Lane Neville, Shelby Tworek, Barbara Lloyd, Chris Gerow, and Russ Warner. (Photo courtesy of NAI Horizon)

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The diversity of property types represented by NAI Horizon’s Top Producers makes two points very clear:

First, the Valley’s commercial real estate industry is growing once again.

Second, the collective success of its professionals was driven by strong engagement, vast experience, and forward-thinking mindsets.

NAI Horizon’s Top 10 Producers closed transactions totaling more then $275 million in office, retail, industrial, and investment sales.

“NAI Horizon’s broad range of specialties combined with our broker ownership program were instrumental in the company’s overall success last year,” said CEO and President Terry Martin-Denning. “This diversity allowed our agents to secure the best possible outcomes for their clients.

“The broker ownership program offers agents an opportunity to play a direct role in the company’s future,” Terry adds. “This creates a culture in which our agents can maximize their own business while still benefiting from the resources of a national platform. An overwhelming majority of our top producers have ownership in the firm and are members of the Executive Committee.”

Commercial real estate is an ever-changing industry. NAI Horizon has not only embraced change, it has built a platform that helps its brokers thrive. This platform will be a driving force as it adds new brokers in 2017.

NAI Horizon’s 2016 Top Producers:

1: Russ Warner – Investment Sales (Manufactured Housing and RV Parks)

2: Rick Foss – Industrial

3: Isy Sonabend – Industrial

4: Chris Gerow – Retail

5: Shelby Tworek – Retail

6: Barbara Lloyd – Investment Sales

7: Gabe Ortega – Retail

8: Lane Neville – Investment Sales

9: Horth Hong – Retail

10: Denise Nunez – Investment Sales (Self Storage)

 

 

 

Park, Ryan look to develop 36 acres in Gilbert

The Park Corp. has reached a deal with Ryan Cos. to develop 36 acres of commercial property at the southeast corer of Val Vista Drive and Pecos Road in Gilbert.

Gilbert Growth Properties LLC — an arm of Cleveland-based Park — owns the land and has picked Ryan to develop the property into office and medical buildings near Loop 202 in the East Valley.

The build-to-suit development is called Val Vista Square.

Ryan has a number of notable Valley developments, including ASU Research Park and Marina Heights in Tempe.

NAI Horizon’s Lane Neville, Barbara Lloydand Holly Brock will market the property for Park and Ryan.

–  | Senior Reporter | Phoenix Business Journal

Original Article