Does ReCon Stand for Recession-proof?

Lisa Plummer -- Tradeshow Week, 5/30/2008 11:34:00 AM

Amid a softening economy and mortgage crisis, you’d think a real estate industry tradeshow wouldn’t be such a positive place to be. However, at this year’s Intl. Council of Shopping Centers’ tradeshow and conference, ReCon, The Global Retail Real Estate Convention, the mood was anything but downcast.

Held May 18-21 at the Las Vegas Convention Center, the show for commercial real estate brokers, retailers and developers demonstrated that the sector is still going strong, despite the challenging financial climate.  

For the first time in ICSC’s 25 year-plus history at the LVCC, RECon’s leasing mall and trade exposition filled the venue’s almost 2 million square feet to capacity, with conference sessions at the neighboring Las Vegas Hilton. 

The number of exhibitors increased 12 percent from last year to approximately 1,340 companies, although attendance was flat at approximately 50,000.  

According to Marvin Morrison, ICSC senior staff vice president of programs and services, the expansion of the show is a direct reflection of a strong industry sector. In the last two years alone, the show grew from 1 million to 2 million square feet of space, he said.  

Morrison said, “We grew the space, we were at record numbers this year, and I’d say it was a very positive event in terms of what we can anticipate going forward with retail real estate.” 

He added that, though he believed companies are being more conservative and moving at a slower pace in the current market, business is brisk. 

Word on the showfloor seemed to echo this sentiment, especially in the leasing mall. 

Exhibitor Tracy Lauer, a leasing representative for Widewaters Group, said she didn’t think the economy or the residential real estate crisis was having any negative impact on her business. 

“It’s been as busy as I expected, and we’ve had a ton of meetings,” she said. “We’ve seen no difference from last year or previous years.” 

Attendee David Hansen, vice president of Asian Too restaurant chain, said he hadn’t been sure what to expect this year, given the economic climate, but was pleasantly surprised by bustling activity on the show floor.

“Maybe it’s an indication that the commercial real estate sector hasn’t been impacted as hard as other areas of the economy,” he said. “Last year was the first year they expanded (the show) into three halls, so I was expecting that that would’ve (affected attendance) this year, but it really hasn’t.” 

Attendee Philip Stewart, project manager with Myhre Group Architects, wasn’t as positive. While he agreed that companies were indeed doing business, most were focused on filling leases and existing space rather than planning new projects. 

“For me, it’s been a little frustrating,” Stewart added. “I’m going to come back next year if the economy’s better, otherwise I’m going to wait a couple of years.” 

Still, most attendees and exhibitors were satisfied with the show, pleased with the larger showfloor and said they would return next year.  

According to Morrison, there’s no end to the show’s growth. He said the show may need to set up tents in the LVCC parking lot next year to accommodate the demand for space. 

Booked at the LVCC through 2020, RECon will return to Las Vegas May 17-20.