2014: A Good Year for Shopping Centers
The industry as a whole is thriving and only going up. In 2014, the average value of shopping center construction ($14.5 billion), occupancy rates (92.7%) and rent (+ 6.5%) all soared to record-highs since 2008. Shopping center NOI also experienced record growth rate (+8.3%) since 2000.
Shopping Centers Are a Good Investment for You...
Shopping centers REITS more than doubled the return rate of the S&P 500.
...And a Good Investment for Your Community, Too
12.5 Million Jobs, $2.47 Trillion in Sales, $23.9 Billion in Property Tax Revenue, and $140.5 Billion in Sales Tax Revenue...
...But shopping centers are more than just retail hubs – they are the heart of the community, pumping back significant social and charitable support.
Innovating for the Future
The new consumer paradigm has emerged: the Omni-Channel Shopper.
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the collection of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.org and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.