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TRC Blog

May 21 , 2013

ICSC Day 3:  Making Deals

ICSC Day 3: Making Deals

ICSC Day 3: Making Deals


Bisnow is on the ground in Vegas for ICSC RECon and witnessedwheeling and dealing firsthand Tuesday at the Convention Center. We have the pics (and a few blisters) to prove it. First off: The Retail Connection, whose top dog tells us he expects to conduct more than $1B in deals this year (reinforced by ICSC activity.)

 

The Retail Connection
Bed, Bath & Beyond real estate regional director Peter Russelljoined The Retail Connection prez Alan Shor, CEO SteveLieberman, and connected development prez David Wilson. Steve tells us that collaboration is the name of the game. (They teach you to share in kindergarten for a reason.) Working closely with Peter, the two firms discovered the need for a retail development in Tyler. The result: The Village at Cumberland Park, where BB&B will be an anchor tenant (the company has 1,400 stores and is still growing internationally in Canada and Mexico, Peter says). TRC should close on the land and start construction this summer on the 700k SF project; already, up to 350k SF of leases have been signed or are out for contract. Opening should be fall '14.
CohnReznick (Think) MDFW

 

 

The Retail Connection team
Steve says TRC did about $1B in transactions in '12 and expects to exceed that figure this year. The firm has grown about 40%since '08 (both in business and in employees.) In the last 18 months, TRC has acquired about 1.5M SF in projects following Peter's advice: Don't let a good recession go to waste.
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