NEW YORK — With the U.S. economy still sputtering, the global landscape in disarray and property values and interest rates at historically low levels, now is the time to invest in retail and real estate. That was the message delivered at the opening session of the International Council of Shopping Centers' national conference and deal-making convention here Monday morning.
Jonathan Gray, global head of real estate for The Blackstone Group, said that while conventional wisdom may be urging caution, conventional wisdom is often wrong. He said retail rents are headed higher since the recession led to lower supply of shopping centers and building costs are low, so there’s a payoff in the future for those willing to take the plunge.
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