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Updated: June 8, 2024

I’m sharing notes from sessions and conversations at the International Economic Development Council annual conference in Dallas. First up: Retail! Lacy Beasley of Retail Strategies moderated a panel on retail real estate and development. While it was mostly big city stuff, several topics were relevant for smaller towns. How to convince a property owner to […]

IEDC 2023 annual conference logotype over a nighttime skyline of Dallas, Texas.

I’m sharing notes from sessions and conversations at the International Economic Development Council annual conference in Dallas. First up: Retail!

Lacy Beasley of Retail Strategies moderated a panel on retail real estate and development. While it was mostly big city stuff, several topics were relevant for smaller towns.

How to convince a property owner to reinvest in their retail strip,  center or even one building in a small town

Herb Weitzman, a Dallas area retail developer, said that many retail real estate owners think ‘we’re not making any money so we can’t invest in our store or our shopping center.’

As a former rural retail store owner, I certainly recognized that small town, small business attitude.

However, Herb said that much like investment in remodeling and modernizing a retail store will increases its sales, it will also increase overall sales and the corresponding rents for retail centers. It’s possible that this is the right motivation to get some owners to act.

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