NEW NRTA – ICSC ALLIANCE, enhances sharing of information and education in the field real estate lease management.
“The National Retail Tenants Association and ICSC (Innovative Commerce Serving Communities) are collaborating to enhance the sharing of information and education in the field of real estate lease management,” announced NRTA Executive Director Lisa Krizek earlier today.
“By combining our resources and expertise, we aim to provide valuable insights, best practices, and innovative solutions that address the evolving challenges in real estate. This partnership will facilitate educational initiatives, webinars, and networking opportunities, empowering professionals in the industry to stay informed and equipped to navigate the dynamic landscape of real estate management,” she explained.
The partnership, Lisa summarized, combines resources and expertise that distinctly benefit industry professionals.
As an example, the joint effort brings attention to members of both communities the value of reading a timely article, “How Retail and Hotel Work Together,” authored by Joel Goover.
Posted Oct. 2, 2024 in ICSC’s prestigious Commerce and Communities Today (C + CT) section, ICSC contributing journalist Joel Goover says, “The growth of new hotel brands, the shift toward experiential real estate projects and even the Fed’s latest round of rate cuts all stand to draw retail and hotels closer together. They can drive a lot of traffic, especially lifestyle or luxury hotels that are conveniently located in high-growth markets.”
Groover also says the recent “50-basis point interest rate cut likely will spur more hotel acquisitions and renovations, a trend that could boost traffic to retailers and restaurants near these reinvigorated properties.” His article also notes that it is likely we will witness a 100 or 150 basis points in total [rate] reduction between October and the middle of 2025.