Malls’ brighter future is apparent in Vegas

By Justine Griffin for the Herald-Tribune

Real estate developers and retail chain executives are cautiously optimistic that 2014 is the year for chain stores to expand into new markets and for overall industry growth.

With retail sales up in April more than 4.1 percent compared with a year ago, according to the International Council of Shopping Centers trade group, analysts are hopeful that more new business is on the horizon.

That could mean more new brands coming to Southwest Florida in the near future.

The optimism can be seen in the record number of people in Las Vegas this week at the council’s annual ICSC RECON convention — the largest retail real estate gathering in the world. Industry officials hope to sign more new deals and build momentum to pre-recession levels.

“We’re coming off a strong ICSC conference in New York last December, and now there are more people going to ICSC in Vegas than the last five years,” said Faith Hope Consolo, chairwoman of the retail team for New York City-based Douglas Elliman Real Estate.

“Florida is such an important market that’s seen a lot of growth and change — a lot of great survivors down there, reinventing the wheel,” she said.

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