Three60Austin, a partnership between Ethel Austin Property Group and Plus Housing Group, has acquired Eddisbury Square Shopping Center in the U.K. for nearly $12 million. The joint venture is considering building residential above the retail space.
The retail real estate market is expected to soften this year, with prices falling nearly 20% from their high in 2007, say investors. According to brokerage firm Marcus & Millichap, retail vacancy rates are expected to rise to 11.1% in 2008.
The mastery of certain characteristics is essential for CEOs to succeed in today's complex business world, according to a chief strategy officer who details these essentials, such as integrity, energy and the ability to manage change.
Real estate executives from around the world converged at ICSC's annual convention in Las Vegas on Sunday, with an estimated 50,000 attendees expected to take part in the four-day event. The convention is also drawing government authorities looking to partner with developers.