This year’s RECon seemed to be a lot more like 2007 than any of the recent years’ shows. All three halls were busy and filled with landlords, brokers, retailers and restaurants moving from meeting to meeting working on their next deals. With attendance pegged at over 36,000, up from the low of 29,000 in 2010, this year’s RECon proved to be not only well attended but was also equally productive. Activity was most noticeable in the QSR category with a wide variety of restaurant groups from Chipotle to Jimmy John’s actively expanding their concepts. In addition, sit down restaurants that have stood the test of time were also active.
Perhaps the only thing missing from the show circa 2007 is the traditional power center anchors such as Kohl’s, Walmart and Target. However, activity from mid-sized boxes still remains strong as predominately discount retailers pursue the redevelopment of existing spaces. Moving forward into the balance of 2015 and 2016 the appetite of many of these mid-size concepts will be met with the glut of office supply stores that are likely to come onto the market. Another notable difference from the 2007 show is the lack of green-field sites that were widely being developed. New development at the 2015 RECon was largely oriented toward in-fill, mixed use projects near the urban core.
RECon 2015 was a huge success by nearly every measure. The future appears to look quite positive even though the activity does seem more measured than in 2007.
Andy Bulson | Principal
Mid-America Real Estate Corporation
One Parkview Plaza, 9th Floor | Oakbrook Terrace, IL 60181
Direct: 630.954.7376 | Fax: 630.954.7304
firstname.lastname@example.org | www.midamericagrp.com