Delisle of IA: Operating in a highly competitive market

Name: Roger Delisle Title: Principal Company/Firm: Island Associates Real Estate Inc. Year Founded1991 Years in real estate industry: 24 years Telephone: 631.982.2100 Email: [email protected] URL: http://www.islandassociates.com/ Real Estate Associations/Affiliations: CCIM, ICSC, NYSR What are your expectations for the ICSC NY conference this year? Believe the new venue (Javits) will offer new excitement and energy to an already high energy Retail convention. Given the proximity to our offices and cliental always productive. What trends are you seeing in leasing? IA concurrently have numerous leasing assignments in our market (Nassau/Suffolk) conversely finding new opportunities. Transmuting existing tired RE into new construction whether for an existing retailer we are representing or new development capitalizing on the higher rents generated for new construction. What challenges can the retail market in New York anticipate in 2015? Retailers in our market (Nassau/Suffolk) operate in a highly competitive market all seeking to increase sales from prior years to grow. Expenses increase with the competition competing for the same consumer, employees and merchandise at the most convenient locations will determine success. With Nassau County averaging over $7-$9 s/f for RE taxes this alone lowers margins and impacting rents. The most desirable locations with most convenient traffic access and visibility will survive where others will be challenged giving the Internet, competing with the bricks and mortar of other retailers.