ICSC Red River States Recap
Hosted January 9-11, 2019 at the Fort Worth Convention Center, this year’s ICSC Red River States Conference and Deal Making session brought some changes to the annual show that were met with mixed results such as a new January date, the inclusion of five regional states instead of a standalone Texas show, and a location in the heart of downtown Fort Worth.
Despite the shifts to the show, the goals were the same: retailers, developers, owners and partners connecting to pencil meaningful real estate concepts and ink successful tenant contracts. We caught up with Director Jon Kendall from our Frisco office to learn more about what he was hearing at the show.
Value-Add is the Vision
“While investment in Texas is happening across the spectrum, value-add centers and real estate continues to be a major focus right now,” said Kendall. “The cost and uncertainty of new construction combined with fast-changing retail expectations makes value-add acquisitions a quick way to invest and generate the desired returns.”
Regional Retail Hubs
“Some of the places being discussed in the meetings had to be looked up on map. They are not your well-known suburbs and fast-growing communities,” said Kendall regarding the communities where clients and colleagues are looking to develop single and multi-tenant properties. “If you can find sites on the more-affordable suburban edge near regional hubs that feed the outlying, underserved rural communities, you have the required demographics for certain retailers with lower cost of land and property.”
Mixed Reviews for Municipalities
“There were a ton of communities here at the show promoting their position and their value to retailers and developers. On the other side, however, we hear developers sharing concerns and challenges with evolving municipal requirements. Whether expanding open-space ordinances on the front or less-than-timely construction inspections on the back, owners and communities need to keep looking for the win-win in their relationship.”