Commercial Real Estate Show RECon Continues to Climb Out of Recession

May 21, 2014
Commercial Real Estate Show RECon Continues to Climb Out of Recession alt

Focused and busy would be one way to describe the vibe at RECon 2014, a trade show and conference for retail real estate that took place May 18-20 at the Las Vegas Convention Center.

Spanning approximately 1 million square feet, it featured about 1,100 exhibitors and brought together 33,500 industry professionals who were ready to capitalize on the improving real estate market. While square footage remained the same as last year, attendance and exhibitor count saw a slight uptick.

“During the recession, the bottom fell out, and since then, it’s been a steady climb for us that mirrors the U.S. economy,” said Jesse Tron, communications and public relations manager at International Council of Shopping Centers (ICSC), which runs the show.

Tron noted the growth of outlet malls and smaller properties, as well as a strong trend of reinvesting in current retail real estate assets and maximizing their effectiveness.

“Retailers are expanding again and looking for more space,” he said. “Soon, there will be new builds coming into the pipeline.”

How was that reflected on the showfloor? Lenders are back in en masse. “We sold out the finance pavilion and had a waiting list,” Tron said.

To help landlords reinvest in their properties, the show created the new Marketplace Mall area that featured product and service providers to commercial properties. It also was sold out.

Lots of activity was happening on the showfloor. From dancing fountains to bungee jump towers to wind tunnels, the only thing missing was artificial snow for ski slopes in malls, Dubai-style.

Food retailers remained the favorites, giving out samples and driving traffic to the very back of the halls.

“We gave away over 175 gallons of frozen yoghurt, which is double of last year,” said exhibitor Jamie Erickson with Menchie’s Group Inc.

While the line was always there, the company relied mostly on pre-set appointments for business meetings and is hoping to move to the South Pavilion next year.

First-time attendee Steven Tulgan with Ferrara Jerum Intl. also had a full schedule. “I am blown away by the sheer size of the show and also by how helpful and accessible exhibitors are,” he said. “Here, I can connect with all our tenants quickly and efficiently.”

His one wish about the show? He wanted more dynamic navigation functionality with the show’s app that would help him find his way around in real time.

When not racing around the floor, attendees could relax and learn at the ICSC Coca-Cola Happiness Lounge.

Along with cold Coke, it featured 20-minute workshops on the latest tech tools, social media trends, as well as health and wellness tips. Free Wi-Fi and charging stations also invited lingering.

Planning for 2015, ICSC is considering the addition of the recently acquired Spree Show (Specialty Retail Leasing Show) to RECon.

“It has a great synergy with our show because many big developers also have specialty leasing teams and they’re all exhibiting at the show anyway,” Tron said. The details of the collocation should be finalized in the coming months.

Add new comment

Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here. New Wave Experiences Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024. Enhanced Technology Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space. Refreshing New Design & Fine Art The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights. Sustainable Spectacles Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles. The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.