Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/306204
10 May | June | 2014 Commercial Investment Real Estate C CIM E D U C ATI O N p Retail Education Part of the strategy for promoting CCIM Institute's education pro- gram to a wider audience is partnering with other established commercial real estate professional development programs. For the past several years, CCIM has sponsored sessions at the University of Shopping Centers, hosted by the International Council of Shop- ping Centers on the campus of the Wharton School of the Univer- sity of Pennsylvania in Philadelphia. This year, nearly 500 retail specialists took part in the three-day event that featured 57 classes at all levels, from executive to entry-level professionals. The pro- gram's aim — to offer practical information that can be used imme- diately in business — dovetails with CCIM's own focus on acces- sible knowledge. As part of the Advanced/Finance and Financial Analysis curriculum, CCIM Insti- tute hosted four sessions, two each presented by CCIM instructors H. Blaine Strickland, CCIM, president of HBS Resources, Inc., of Orlando, Fla., and Walter S. Clements, CCIM, president of Clements Realty Advi- sors in Glenview, Ill. Strickland presented two sessions: com- paring leases for dif erent spaces and mea- suring a user's cost of occupancy, both drawn from concepts presented in CCIM's CI 103 course. Strickland's students included execu- tives from several well-known retailers, as well as retail real estate investment trusts and development companies. He was also struck by the classes' diversity. "About one-third of students attending USC were international, and from quite a distance." His classes included students from Russia, Colombia, Romania, and U.A.E. Clements tackled trade area analysis based on CI 102 concepts and win-win negotia- tions. He shared basic concepts of feasibility analysis and a case study for a retail center he developed in a suburban Kansas City loca- tion. He incorporated STDB data, which provides CCIM members with access to ESRI data in addition to several other valu- able tools. "T e CCIM concepts were spot on for what the attendees needed to know — how to analyze demographic and psychographic data from a user's perspective to speak directly to the needs of the potential ten- ant," Clements says. "Many of the partici- pants were amazed at the incredible value of being a CCIM and having access to this data." He also illustrated how to slice and dice the data "to help a retailer decide if a particular location is optimal for their unique product or service." T e subject of successful negotiations cuts a broad swath across day-to-day activities for retail tenants, landlords, and developers, Cle- ments notes. "T e interest-based approach is extremely helpful in any negotiation experi- ence." It also brought some interesting reac- tions from students, especially those from other cultures. "T e students were from nine dif erent countries. T e negotiations con- cepts of high integrity and expending your energy to satisfy everyone's needs through an interest-based model were truly enlightening for most of them." ICSC's international student body is not surprising, given that most retail companies are focusing expansion and development ef orts globally. T e top 250 retailers world- wide derived almost 25 percent of their 2012 prof ts from cross-border operations, accord- ing to Deloitte's "Global Powers of Retailing 2014" report. Emerging economies show the most retail promise: Latin America's retail revenue growth in 2012 was the world's high- CCIM courses hit the mark for shopping center students. Walter S. Clements, CCIM 1 0 - 1 1 D - C C I M E d . i n d d 1 0 10-11 D-CCIM Ed.indd 10 4 / 2 9 / 1 4 2 : 3 8 P M 4/29/14 2:38 PM