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Reviving Strip Centers - Rule 2

By
Real Estate Agent with Bill Cherry, Realtor 0124242

The primary resource for the information needed to determine not only how to adapt an old center to a revitalized one but who your prospective tenants will be, is membership in the International Council of Shopping Centers.  It's almost always called the ICSC

Landlords, management companies, all sorts of applicable vendors and tenants themselves are members.

Conventions are held annually, often times in Las Vegas at its huge convention hall.  The Spring convention this year will be there and runs from May 20th thru May 23rd.

In addition to attending the conventions and the various conferences, the most important by-product is meeting and making personal face-to-face contacts and then nurturing them. 

Secondly comes the membership directory.  That's where you are kept up to date as to exactly what prospective leasing tenants are looking for space-wise and who the leasing representatives for the tenants are.

Some of my most favorite people have come from those I've met at ICSC conventions.  Former Phillips-Van Heusen Attorney Bob Silverstein and leasing genius Shelly Gravino come to mind as do former Mikasa official Norman Higo and Pier 1's Marvin Girouard and Louise Spencer.  And there was the resurrection of an old college friendship with Donia Garlington.  But my Rolodex is full of ICSC friends -- friends that became longtime friends.

It is virtually impossible to properly revitalize and re-tenant any center of 300,000 square feet or more without active membership and attendance in the ICSC.

Apparently most who find themselves involved with centers with large vacancies and outdated architecture have ignored this very important resource.

BILL CHERRY REALTORS

DALLAS

214 503-8563

Copyright 2008 - William S. Cherry

All rights reserved

 

Comments (3)

Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Bill...is that ICSC nationwide? It sounds like a wonderful resource!
Apr 26, 2008 02:38 PM
BILL CHERRY
Bill Cherry, Realtor - Dallas, TX
Broker & Wealth Coach

Miss Joanie

The ICSC is actually international now, especially since there are shopping center investors all over the world, and there is cross-collateralization of tenants -- US companies in centers in, say Sweeden, and Swedish companies leasing space in US centers.

Membership is $500 a year.  But you must become active in the in-person conventions and meetings for it to be meaningful to you.  The education part is phenomenal, for an example.

Bill

Apr 26, 2008 03:37 PM
Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, e-Pro, TAHS
Very interesting, thanks for sharing.  That is not my expertise so I am not aware of how things are done.
Apr 26, 2008 04:39 PM