Saturday, May 26, 2012
here for accompanying rim shot).
It seems ages since I've last blogged and it's because I've just been too busy with work (and if you want to use that as anecdotal evidence for your next market report, feel free).
This year's convention was noticeably more active and while final attendance figures aren't published yet, estimates range from 31,000 - 35,000. On the eve of the convention the fellow I was sitting next to at the black jack table, who works for ICSC, told me that there were 31,800 registrants at that time.
According to GlobeSt.com this is up approximately 15% from 2011 and 35% from 2009 so we are heading in the right direction. And at our client event at the the Aria hotel's Liquid Lounge (see photo which I can't seem to get orientated correctly) we unfortunately had to turn people away for crowd reasons (another bit of anecdotal evidence for your market report).
In San Francisco, the commercial real estate industry is just plain hot. Powerhouse global real estate developer Tishman Speyer has just sold 555 Mission Street, purchased 650 California Street and is soon to break ground on Foundry III (@ Howard & 1st St).
And Hudson Pacific Properties who (quoting from their website) "believes recent events in the financial and commercial real estate markets have created significant market dislocation, thereby fostering a favorable acquisition environment" has been backing up those words with several acquisitions including Rincon Center and soon to close 901 Market St.
On the retail front, Japanese retailer Uniqlo is finally landing in the City with a 29,000 sf lease at 111 Powell St, new Chipotle locations seem to be popping up all over and existing retailers such as Niketown and Walgreen's are undertaking significant remodeling/re-branding projects. And of course the restaurant sector is on fire - for those of you who haven't been to Valencia St recently I highly recommend you do.
I could go on and on but after three days of hard-work in Vegas I have some catching up to do so I'll end here and start catching up, starting with a nap!
p.s. you know, I spent many years in the television business and our corporate mission was to "educate, inform and entertain" and I'm trying, with limited success as it may be, to do the same here - and where I have been deficient in the "entertain" aspect let me try and make it up to you for that with this!
at 9:42:00 AM