NEW YORK--(2012 ICSC Retail Real Estate World Summit in Shanghai, being held September 11-14, 2012.)--Cushman & Wakefield today announced that in conjunction with the International Council of Shopping Centers (ICSC), it would release a study examining the global shopping center industry at the
“Our preliminary findings show that despite the lack of a broad, global recovery and bifurcated regional economic performances, prime malls/shopping centers have generally been strong performers in terms of tenant demand, sales and increased rental rates across nearly all regions of the world”
The report focuses on global retailer and macro consumer trends impacting the global shopping center industry, as well as rent and demand trends for prime shopping centers globally and regionally in Asia Pacific, Europe and the Americas. It also provides an overview of how these trends will shape tenant mix, as retailers and shopping center owners position their centers for the next phase of global growth.
“Our preliminary findings show that despite the lack of a broad, global recovery and bifurcated regional economic performances, prime malls/shopping centers have generally been strong performers in terms of tenant demand, sales and increased rental rates across nearly all regions of the world,” said Glenn Rufrano, President and Chief Executive Officer of Cushman & Wakefield.
“We are pleased to partner with Cushman & Wakefield, a leading global firm, to disclose the findings of this important report at the World Summit,” said Michael P. Kercheval, president and CEO of ICSC. “This report will be of significant interest and value to our attendees and the fact that Cushman & Wakefield selected the summit as the platform to disseminate this information speaks to the critical nature of the conference.”
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, fully‐integrated on a global basis, including leasing, sales and acquisitions, debt and equity financing, investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 55,000 members in over 90 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world. For more information, visit www.icsc.org.