Commercial Real Estate Show RECon Continues to Climb Out of Recession

May 21, 2014
Commercial Real Estate Show RECon Continues to Climb Out of Recession alt

Focused and busy would be one way to describe the vibe at RECon 2014, a trade show and conference for retail real estate that took place May 18-20 at the Las Vegas Convention Center.

Spanning approximately 1 million square feet, it featured about 1,100 exhibitors and brought together 33,500 industry professionals who were ready to capitalize on the improving real estate market. While square footage remained the same as last year, attendance and exhibitor count saw a slight uptick.

“During the recession, the bottom fell out, and since then, it’s been a steady climb for us that mirrors the U.S. economy,” said Jesse Tron, communications and public relations manager at International Council of Shopping Centers (ICSC), which runs the show.

Tron noted the growth of outlet malls and smaller properties, as well as a strong trend of reinvesting in current retail real estate assets and maximizing their effectiveness.

“Retailers are expanding again and looking for more space,” he said. “Soon, there will be new builds coming into the pipeline.”

How was that reflected on the showfloor? Lenders are back in en masse. “We sold out the finance pavilion and had a waiting list,” Tron said.

To help landlords reinvest in their properties, the show created the new Marketplace Mall area that featured product and service providers to commercial properties. It also was sold out.

Lots of activity was happening on the showfloor. From dancing fountains to bungee jump towers to wind tunnels, the only thing missing was artificial snow for ski slopes in malls, Dubai-style.

Food retailers remained the favorites, giving out samples and driving traffic to the very back of the halls.

“We gave away over 175 gallons of frozen yoghurt, which is double of last year,” said exhibitor Jamie Erickson with Menchie’s Group Inc.

While the line was always there, the company relied mostly on pre-set appointments for business meetings and is hoping to move to the South Pavilion next year.

First-time attendee Steven Tulgan with Ferrara Jerum Intl. also had a full schedule. “I am blown away by the sheer size of the show and also by how helpful and accessible exhibitors are,” he said. “Here, I can connect with all our tenants quickly and efficiently.”

His one wish about the show? He wanted more dynamic navigation functionality with the show’s app that would help him find his way around in real time.

When not racing around the floor, attendees could relax and learn at the ICSC Coca-Cola Happiness Lounge.

Along with cold Coke, it featured 20-minute workshops on the latest tech tools, social media trends, as well as health and wellness tips. Free Wi-Fi and charging stations also invited lingering.

Planning for 2015, ICSC is considering the addition of the recently acquired Spree Show (Specialty Retail Leasing Show) to RECon.

“It has a great synergy with our show because many big developers also have specialty leasing teams and they’re all exhibiting at the show anyway,” Tron said. The details of the collocation should be finalized in the coming months.

Add new comment

Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.