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
12 May | June | 2014 Commercial Investment Real Estate Q & A C CIM w by Jennifer Norbut Networking Value With 25 years of retail property management experience, Yvonne Jones, CCIM, CPM, managing director of asset and property management for McCaffery Interests in Chicago, has seen many retail trends come and go. She has helped her clients make the most of boom markets and survive bust markets. And through it all, she has invested in the professional development opportunities afforded by retail industry events, such as the International Council of Shopping Center's annual RECon expo. "There are always so many opportunities at ICSC," Jones says. "It's a great place to strengthen the long-distance business relationships you maintain throughout the year as well as sit down to present a property, negotiate, or celebrate a deal you closed." As a featured panelist at the RECon 2014 event, Jones will share insights on how retailers are using technology, including social media, to effectively market and position their properties. Commercial Investment Real Estate asked Jones to share a few of the trends she's seeing right now in the retail industry and how participation at networking events such as RECon has helped her career. CIRE: How are retail property owners and managers successfully using social media tools and strategies to their advantage? Jones: Many of the large institutional retail owners have active and engaging social media programs. A great example of a suc- cessful strategy is in practice by the owners of the mixed-use Atlantic Station devel- opment in Atlanta. T ey have ef ectively Yvonne Jones, CCIM, CPM integrated tenants and local area retailers into their social media strategy and have amassed a large number of engaged follow- ers and fans. While it is hard to translate the ef orts of a social media campaign into exact dollars, it is a must-do for those who own and operate retail assets around the coun- try. Community and retailer engagement is really the key. Now more than ever, land- lords f nd themselves partnering with retail- ers, vendors, and other providers to enhance awareness and recognition of their proper- ties in the marketplace. T e cool place to shop is the one that is connected and active. CIRE: How are consumer retail trends, including online shopping, affecting space-use decisions among property owners, managers, and tenants? Jones: Retailers are looking for less space and seeking opportunities to downsize whenever possible, especially in the smaller markets where there may be slower job and housing growth. Consumer habits are also changing. T e Internet, and the availability of information instantaneously on hand- held devices, allows them to price compare quicker than ever before. T is puts pressure on the retailer to not only have comparable pricing, but to of er better customer ser- vice and an overall more-favorable in-store shopping experience than the competition. CIRE: How did you get started in the industry? How has your involvement with professional organizations beneļ¬ ted your career? Jones: I have been involved in commercial real estate since 1989 when I was hired to manage a portfolio of more than 200 U.S. Post Of ces located throughout the coun- try. Since that time, I have been involved in many acquisition, disposition, and man- 1 2 - 1 3 D - Q A . i n d d 1 2 12-13 D-QA.indd 12 4 / 2 9 / 1 4 2 : 4 1 P M 4/29/14 2:41 PM