By Globe St., Monday, January 27, 2014
Retail Flight to Quality Continues
LONG BEACH, CA-National retail tenants are focusing on centers with the best positioning and visibility and the highest traffic counts, said panelists at the Association of Corporate Real Estate Executives of Southern California’s 2014 Industry Forecast here last week. However, portfolio diversity helps businesses remain steady over time, they added.
Panelists agreed that 2013 was an outstanding year for their teams. Greg Fisher, president of Present Value Properties, said, “We have more than tripled our business since 2007,” and Shauna Mattis, SVP of Wilson Commercial Real Estate, added, “We also had a very successful year. Now our concern is that much of the quality space got leased and retailers seem to be back in the cautionary role.”