News
ICSC DAY THREE
May 25, 2011
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| Yesterday was our Bisnow reporters' third day on the ground at ICSC in Vegas, where we snapped former Queer Eye star Carson Kressley interviewing play center/restaurant Cool-de-Sac CEO Jose Luis Bueno (while ICSC prez Michael Kercheval chaperones). Cool-de-Sac has locations in Mexico City and Miami and plans to expand. SoCal's organic, low-sugar juicemonger Nekter Juice Bar intends to expand nationwide—and rapidly. And casual Mediterranean eatery Crazy Pita is targering Nevada, California, Arizona, and Texas. ICSC named all three retailers to watch. |
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| It's hard to talk about the hot retailers without talking about the ?not? retailers, though, Carson says. Remember the New Coke and Doritos-with-Olestra fiascos? Add to them British breast milk ice cream purveyor Icecreamists and its ?Baby Gaga? offering; famous NYC dessert joint Serendipity 3?s recession-boggling $25k sundae; the e-cigarette; and the melatonin-laced Lazy Cakes. |
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| We also snapped JLL retail managing director Kris Cooper and LA colleague Dave Doupe. At ICSC, JLL brought to market the 68k SF Publix-anchored Paradise Crossing Shopping Center in Douglasville/Lithia Springs and the 105k SF Summit Point Shopping Center in Fayetteville. The latter is expected to fetch around $21M. Kris tells us it's a great time to market these "flight to safety? deals:Cap rate compression is nearing pre-crash levels, financing is available, and developers won't sell at a loss. Both are well-leased, Class-A assets. After ICSC? Kris and his wife are headed to Scotland to get their 25-year-old daughter settled in for grad school at the University of Edinburgh, where she'll study early childhood development psychology. Bear this in mind: Downtown Edinburgh is one of the priciest markets in the world, so Kris really needs to close these deals to pay for it. |
