The Bright Realty team returned from this years ICSC RECon event with a strong message: brick and mortar retail is still very much alive in spite of the ongoing expansion of online shopping outlets. This years International Council of Shopping Centers convention in Las Vegas May 21-24 drew more than 37,000 participants. While at the convention, individuals from Bright Realtys brokerage team met with real estate representatives in the Bright Realty suite at Bellagio and at the Las Vegas Convention Center.
Of the more than 1,200 exhibitors, many were vying for access to restaurant, entertainment, fitness and hotel tenant reps seeking physical locations for their internet-proof clientele, while others were hoping to appeal to tenant reps seeking attractive retail spaces to complement their online stores. While big development news is focused on restaurants and entertainment tenants like Top Golf, many retailers are working on smaller deals to simply expand locations or complement their online businesses, said Britton Lankford, senior vice president.
While in Vegas, Bright Realty team members spoke with convention attendees about opportunities Bright Realty has at its planned mixed-use development The Realm at Castle Hills and other sites along the booming State Highway 121 Corridor. Team members met with economic development representatives from south of DFW looking for opportunities for restaurant-driven spaces in their cities and also met with a major hotel group to discuss opportunities on third-party Bright Realty-owned property.
Another Bright Realty property, Castle Hills Village Shops, captured the attention of a rapidly growing local restaurant chain looking to expand to a unique neighborhood space with consistent foot traffic. In 2017, Bright Realty expanded its Village Shops to include townhomes and condos with a brand-new phase for restaurant and retail. This is on the heels of a recent press announcement that TKO Libations, a local craft brewery, will open the areas first brewpub at the Village Shops this month. This latest tenant lease rounds out a line-up of interesting local eateries operating from Village Shops. With regular, ongoing traffic from residents in the local neighborhood and beyond, Castle Hills Village Shops is fast becoming a foodie destination.
The event culminated with a successful dinner at Lotus of Siam restaurant, with Bright Realty hosting economic development representatives, brokers and attorneys.