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RECON 2012: An interview with Jones Lang LaSalle

BY Katherine Boccaccio

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with Jones Lang LaSalle’s Lew Kornberg about what his expectations are for the big real estate show. Visit JLL’s booth at RECon, Central Hall, C1001.

What are your expectations for RECon 2012 in terms of activity, attitude, priorities?
We can expect an overall, upbeat attitude from those attending RECON ’12 including retailers, landlords and brokers. I anticipate deal-making activity to be vibrant and the level of energy to be better than last year.

For many/most established retailers, the priority remains the same—control costs, optimize their existing portfolios, while relocating/adding net new locations in a thoughtful and methodical manner with a continued emphasis on taking advantage, opportunistically, on those areas where rental rates remain somewhat compressed, but where consumer confidence and employment are trending higher.

The number one priority for landlords will be to ensure stability in their owned assets. Those landlords with greater access to operating capital will continue to have more flexibility in what remains a volatile economy. The ability to structure more attractive lease terms and conditions will help these landlords attract a broader base of credit worthy tenants.

What will be your primary focus at your booth this year?
Helping clients—existing and prospective—understand, harness and benefit from the full depth and breadth of Jones Lang LaSalle’s fully integrated service offering. Now, more than ever before, retailer and landlord clients alike need access to a full array of integrated retail services to navigate and succeed in today’s dynamic and challenging environment.

We will also be introducing our local market leaders and new NYC brokerage team. Jones Lang LaSalle has traditionally been a national business supporting our clients centrally; however, we know that retail is becoming hyper-local and are expanding in select local markets across the country – Florida, the Midwest, New York and California.

What categories of retail do you feel will be actively in expansion mode in the back half of the year?
Because of the lag time from site acquisition to new store opening, don’t be surprised to see continued strong growth from low cost/value oriented retailers. Likewise, the quick casual food segment should continue to expand. The lack of new, ground-up development will limit growth opportunities and force those retailers adding new locations to look closely at creative ways in which to adaptively re-use second and third generation space in order to meet their store opening goals.

What key convention indicators do you feel will tell the tale of the rest of the year in terms of recovery?
The number one indicator to watch will be attendance, as it is highly correlated with the overall health of the industry.


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Extra Inventory? Donate it

BY CSA STAFF

By Gary C. Smith, NAEIR.org

When Children’s Wish Foundation International, an Atlanta-based charity, hosts scrapbooking or craft parties for children in the hospital, it turns to a gifts-in-kind organization and its catalog of donated merchandise for supplies. The two organizations then coordinate shipments of stuffed animals, Halloween costumes, craft materials, toys, videos and other items to hospitals to help fulfill the wishes of children in need.

Donations from corporations make it all possible. And all they have to do is send off their donations to gift-in-kind organizations, which redistribute donations of new, overstock and discontinued products to schools, churches and other nonprofit organizations in need of supplies. Donating companies not only fulfill philanthropy and corporate social responsibility efforts, they also benefit from the enhanced tax deduction, which enables companies to receive an up to twice-cost federal tax deductions.

Companies like Microsoft, Stanley Tools, 3M, Newell Rubbermaid, Rand McNally, Reebok, Gillette, Xerox, Hallmark and thousands of others make such contributions, supporting charitable causes while at the same time taking advantage of tax deductions, reducing storage costs, clearing warehouse space and avoiding hassles with liquidators. And as an added bonus, huge amounts of materials are reused and prevented from heading directly to our nation’s landfills.

Gifts-in-kind organizations typically provide free services to donating corporations, and shipments can range from one box to dozens of truckloads. Items donated include office supplies, class materials, clothing and shoes, maintenance items, tools and hardware, toys and games, computer software, sporting goods, books, tapes, CDs, arts and crafts, personal care items, holiday and party items, janitorial supplies and more.

Hallmark Cards, Inc. has donated excess inventory for more than 11 years. The company donates gift bags, gift wrap, party supplies, cards and plush animals, which are then collected, distributed and met with many smiles at schools and hospitals around the country.

Newell Rubbermaid also uses gifts-in-kind donations to help manage its stock issues and fulfill its mission to be a good corporate citizen.

“These donations are a very efficient and effective means to help us deal with stock situations, and our products get funneled to people who might not otherwise have easy access to it,” says Art Swanson, strategic sales manager at Newell Rubbermaid.

Small businesses also can contribute, and if a bill currently up for consideration in the U.S. House of Representatives passes, they’ll be able to benefit from tax deductions too. H.R. 2592, the Charitable Contribution and Parity Enhancement Act, would allow thousands of S corporations and other small businesses throughout the country to take advantage of IRC Section 170(e)(3), which provides a tax benefit for donating excess inventory that previously had been available only to C corporations.

Gary C. Smith is the president and CEO of the National Association for the Exchange of Industrial Resources (NAEIR), the oldest and largest gifts-in-kind organization in the country. NAEIR solicits and receives donations of excess inventory from American corporations and distributes the material to a membership base of more than 13,000 charities. It has collected and redistributed over $3 billion worth of new, donated supplies and equipment since its founding in 1977.


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RECON 2012: An interview with DLC Management Corp.

BY Katherine Boccaccio

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with DLC’s Daniel Taub about what his expectations are for the big real estate show. Visit DLC’s booth at RECon, Upper South Hall, S2235.

What are your expectations for RECon 2012 in terms of activity, attitude, priorities?
Our industry is defined by relationships of every kind, which are vital to our ability to be successful in all facets of our business. Therefore for us, RECon 2012 is about creating new relationships and fostering and developing existing relationships. In particular, as we do every year, we focus on the three (but by no means the only) most important relationships critical to our business: tenants/retailers, prospective acquisition sources and key intermediaries — both equity/debt providers and partners.

Given our focus on relationships, we are expecting solid activity in our discussions with all three of our primary relationships we will be meeting with during RECon. Based upon existing discussions and transactions completed and in process, there is good reason to believe that the generally positive, albeit slow, forward progress we are seeing will be evident in Vegas in all of our meetings, knowing that some of our meetings are to discuss situations where there is both transition and opportunity to work through and with our retailer partners.

Our priority is always, day in and day out, focused on our relationships and how they can assist us in executing our overall business plan, on sourcing sound, fundamentally solid, well-located retail centers, and on where we can apply our entrepreneurial skills and create and increase value.

What projects will you be focused on at your booth this year?
Very simple. Every asset we own, operate and manage and lease is a focus. Clearly, assets, like a living, breathing thing, are in various and different life cycles, and some will require more or special attention; however, balancing all of our centers is what we are responsible for doing every day. Vegas is just every day on steroids!

Both our existing asset base of centers and our new, growing development arm share priority, and we come to Vegas with our respective staff who knows their business models and goals and understands in the context of ‘relationships’ what is needed in each and every meeting (formally set or out of happenstance), and what it is we are trying to achieve.

What categories of retail do you feel will be actively making deals at RECon 2012?
I would envision a similar pattern as to those retailers that have been posting strong and consistent sales figures, quarter over quarter. In addition, retailers that are providing value-add to the consumer, and are focusing on the consumers’ needs, and doing so with a quality product and a strong sense of customer service, should continue to be more aggressive than other retailers and be the ones able to create new brands, offshoots of their core labels and identify areas that are being underserved, or poorly served.

What key indicators do you feel will tell the tale of the rest of the year in terms of recovery?
Housing. Unemployment. Oil prices. Lending to consumer and small- to mid-sized business. Economies of Europe. Terrorism and/or another uncontrollable catastrophic even. And, the presidential election – just to name a few.


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