Greetings from the floor of the Las Vegas Convention Center where the ICSC RECon Convention is about to kick off. In less than an hour, over 31,000 Commercial Real Estate professionals will arrive for the largest deal making event of the year.
As we make final preparations to attend ICSC RECon, I’m very encouraged by the momentum we’re already experiencing this year throughout our portfolio. It’s a welcome signal that commercial real estate is finally recovering – and not just for Retail, but across our other business units as well including Office and Residential development.
What is #2MSQFT? For some of you that question may be literal (frankly, I wasn’t sure what to make of it myself at first) and for others it may be a question about the significance of this “hash tag.” For our marketing team, the idea for #2MSQFT was a combination of enthusiasm for social media tools and a sense of pride in what our company is working on and the optimism we all feel. I certainly share their pride and am, for now, taking their word for it about social media.
As we move into the spring, I am greatly encouraged by the activity I have seen at The Peterson Company's residential projects. It’s a further sign that the market for residential real estate in parts of Northern Virginia and Southern Maryland seems to be improving, especially for those areas with good schools, easy access to employment centers and unique locations to offer.
As a quick follow-up to my blog post from a few days ago… last Thursday, the Prince Georges County Planning Board unanimously approved the Conceptual Site Plan (CSP) for Tanger Outlets at National Harbor. This is a major milestone in our efforts to bring this project to fruition and we are grateful to our team members, community leaders and county officials who worked tirelessly to make it happen.
We're only a week into 2012 and already it's shaping up to be a great year! I thought I would use my inaugural blog post (yes, I am blogging now) to debut a rendering of Tanger Outlets at National Harbor and share some thoughts on why this project is representative of a paradigm shift not only in the Outlet Industry, but for retail development as a whole.
Welcome and thank you for visiting our new blog (and website). We’re proud to launch this new forum and we’re excited to share with you some of the things that keep us busy—and on our toes—each and every day.
Retail had its best Black Friday since 2007, with sales reaching a record $11.4 billion, according to ShopperTrack. The 8.3% spike in year-over-year sales was the largest jump since before the recession. This is even as Cyber Monday continues to pick up steam, accounting for more than $1 billion in sales this year according to IBM’s Coremetrics.