ST. PETERSBURG, Fla. --- Commercial real estate — typically a lagging indicator of economic vitality — is starting to show signs of recovery, says one expert.
Rachel Elias Wein, AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg, recently returned from the International Council of Shopping Centers’ annual Re-Con Convention, which drew an estimated 30,000 real estate brokers, developers and retailers to Las Vegas.
Billed as the nation’s annual gathering of commercial real estate dealmakers, Re-Con was just that, Wein said.
“I’ve never seen so many principals and top executives looking for deals,” Wein said.
“Development deals, anchor tenant deals, power broker deals, retailers shopping market demographics, and the bread and butter of retailers, it was very encouraging,” Wein said.
Wein said commercial real estate developers and retailers are showing signs of improved confidence that improved economic conditions are eminent.
“I think the industry is seeing pent up demand from all sides,” Wein said. “The convention was an energetic, exhausting and entirely optimistic experience,” she said.
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