Guest Author: Sanford Stein, STEIN LLCFeature

MSCA Connection April 2010msca-online.com

Minnesota Shopping Center AssociationVol 24. No. 4

Connection

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Who, What and Wow: Looking at Retailing in the New Normal

Location: Interstate 94 and Maple Grove Parkway, Maple GroveMonth/Year Opened: October 2007Owner/Managing Agent/Construction Contractor: RyanCompanies US, Inc.Center Manager: Krista Kay – Ryan Companies US, Inc.Leasing Agent: Terese Reiling/Amy Senn, Welsh Companies (952)897-7700Architect: RSP Architects and Ryan Companies US, Inc.GLA: 550,000 sf retail (450,000 sf power center, 100,000 sf retail)Current Occupancy: 88.21% (overall development), 44.5% (the village)Anchor Tenants: SuperTarget, Home Depot, Slumberland Market Area Served: Northwest MetroAdditional Facts: Located close to the new North Memorial Hospital,planned 610 extension, and the new Metro Transit Park and Ride,The Grove is situated to take advantage of Maple Grove's growingretail, residential, office, and medical marketplace. In addition toanchors, tenants include Chipotle, Subway, Great Clips, NorthMemorial Credit Union, DaVita Dialysis, Park Nicollet RehabilitationServices, and Kalla Lily Salon & Spa. Available space from 1,200 sf to20,000 sf, as well as prime fast food and sit down restaurant pads.

April 2010

In this Issue

The Grove ------------- SNAPSHOT 1Trend Spotting -------- HOT SPOTS 3MSCA Staff -------- COMMITTEE CHAT 4Peare / Broich ---- MEMBER PROFILES 5Investments ------- PROGRAM RECAP 6

We have all been witness to some fundamentaleconomic “resetting”— anyone intimately connectedto retail has seen a dramatic industry contraction, and

an inelegant one at that. Only a few years ago, thisadjustment would have seemed unimaginable as we werefeeding our seemingly endless need for goods and goodies.

Store closings have vastly outnumbered store openings;Chapter 11 bankruptcy filings that used to make headlineshave become commonplace. The ICSC recently reportedan 8% vacancy rate in regional malls and 11% vacancy instrip centers. Meanwhile online shopping has grown steadilyfrom its virtual inception a mere decade ago, withforecasted growth of nearly 10% per year through 2013according to eMarketer. The next bite out of the retail pie isexpected to be mobile commerce, which has madeinroads in other world markets ahead of the U.S.

Department store anchors initially responsible for theinception and growth of regional malls are dying and beingreplaced by discounters. Specialty retailers—the secondarylifeblood of the regional malls that carry the lion’s share of

mall operating costs—are suffering unprecedented closuresfrom over-expansion and lack of differentiated products.Economic times, internet e-tailing, newer shopping formatsand changing consumer values conspired to devalue thisonce vital shopping phenomenon and the center ofpopular culture for at least three generations of Americans.

Since their rise in the mid-50s, American shopping malls havebeen as ubiquitous as the suburbs that surround them.They’ve been the default city center for a society quick toturn its back on its once thriving and architecturally diversedowntowns, and in a hurry to build a utopian dream ofnearly identical multi-story, skylit, escalator-filled, genericmarketplaces to fuel our need for all things new andfashionable.

Like most other businesses in the 21st century, retailing hasbecome increasingly complex. What worked in the latterhalf of the 20th century is simply not good enough in a timeof increased competition, a more demanding andsophisticated consumer and the impact of the internet onconsumer behavior, to name a few key factors. Simply put,

Snapshot

The Grove

2010 Sponsors

ACI Asphalt Contractors, Inc.American Engineering Testing, Inc.Aspen Waste Systems, Inc.Bremer Bank, N.A.Brookfield PropertiesCB Richard EllisCSM CorporationChuck & Don's Pet Food OutletClassic Asphalt & Sealcoating Co. Inc.Faegre & Benson LLPFendler Patterson Construction, Inc.Fredrikson & Byron, P.A.Gray Plant MootyGreat Clips, Inc.H.J. Development, Inc.Inland Real Estate CorporationJE Dunn ConstructionJones Lang LaSalle/Rosedale

CenterKraus-Anderson CompaniesLarkin Hoffman Daly & Lindgren Ltd.Lawn RangerLeonard, Street and DeinardM & I BankMFRA, Inc.Messerli & Kramer P.A.Mid-America Real Estate -

Minnesota LLCMidwest Maintenance &

Mechanical, Inc.Minneapolis/St. Paul Business

JournalMinnesota Real Estate JournalNorthMarqOlsson AssociatesOppidan, Inc.Opus Northwest, L.L.C.Paster EnterprisesRJM ConstructionRLK IncorporatedRSM McGladrey, Inc.Reliable Property ServicesReliance Development Company, LLPRobert Muir CompanyRobins, Kaplan, Miller & Ciresi L.L.P.Ryan Companies US, Inc.Solomon Real Estate Group Inc.Stewart Title Guaranty CompanySunde Land Surveying, LLCTCF BankTCI Architects/Engineers/

Contractor, Inc.Target CorporationU.S. BankUnited PropertiesVenture Mortgage CorporationWells Fargo Bank, N.A.Welsh CompaniesWestwood Professional Services, Inc.Wipfli LLP

MSCA Connection April 2010 msca-online.com

the days of having the right product at theright price and screaming about it are over.

How then do we begin to reinvigorate themillions of square feet of retail that areunderperforming, with increased vacanciesand decreased visitation? What will re-engage consumers of vastly differentdemographics and psychographics oncethe economy begins to turn the corner andconsumer confidence improves?

Permanent ChangeA few years ago TNS Retail Forward, inconjunction with Price WaterhouseCoopers, compiled a report entitledRetailing 2015 which pointed out that theretail industry is becoming more complexand changing at an ever-increasing rate.They focused on four key areas of changeincluding shifting demographics, householddownsizing, a more educated communityand new channel formats. They went on tosay that as a society we are in a time oftransition and retailing must also transition.They noted that many of the retailconcepts that were responsible for thegrowth of the regional malls had reachedthe end of their expansion runway.Additionally they reported that popularity ofneighborhood centers would continuebecause of their mixed use as well as theircatering to more specific tastes than themore ubiquitous national mall chains.

While these observations are undeniablytrue, I believe to truly understand the needsof the changing society and point the wayto a viable strategy to reinvigorate mallretailing, we must analyze three key areas;I’ll call it the WHO, WHAT and WOW of retail.

WHO—Psychographic RelevanceTo attain market relevance we must firstfocus on the emotional needs of theconsumer. We look at psychographics asopposed to demographics becauseunderstanding the differences which aredriven by lifestyle, life stage and socialgroups gives far more behavioral clues thanmere demographics can offer. But for thesake of this brief overview, I will use the keydemographic groups (Millennials, GenYs,GenXs, Boomers and Elders) to make thepoint about customer relevance. Thiseconomic resetting has created a “tippingpoint” for several of the distinctdemographics. Behavior has been altered;priorities and attitudes have been changed.While it will not likely leave the scars of theGreat Depression, it’s fair to say that boththe boomers’ and elders’ spending habitshave been altered irrevocably. This after the

boomers spent a half century feedingeconomic growth only to be confrontedwith an under-funded retirement.

The younger groups, particularly theMillenials and GenYs, will be the first to startspending again, against the backdrop oftheir immersion into social networking, thelargest experiment in social interaction inhistory. Key brands focused on these groupsare quickly learning how to speak this newlanguage and become part of this greatexperiment. Additionally, both of these keybuying groups have the greatest appetitesfor green products and services. Thispresents another engagement opportunityas well as a responsibility to demonstrate areal commitment to sustainability.

WHAT—Unique CustomerExperiencesToday’s retailers must execute at a very highlevel across many “brand touch-points” toachieve the desired end-to-end retailexperience that customers demand andhave come to expect from leading retailers.These factors include pre-shop: the onlineexperience; shop: the ease, enjoyment andrelevancy of the in-store brand experience;purchase: the ease of the transaction; andpost purchase: the satisfaction ofexpectations. A recently published study bythe Wharton School of Business informs us thatone of these four factors is both moreimportant to consumers and coincidentallyless frequently experienced by them: that isthe in-store “brand experience.”

The declines in department store popularityand that of many of the specialty retailershave been due to undifferentiated productofferings as well as the poor quality of thein-store brand experience. Massmerchandisers like Target have capitalizedon this, successfully executing their brandon each key brand touch-point. Specialtyplayers like Urban Outfitters have focusedon a more refined customer demographicas well as spending amply on creatingunique in-store experiences that resonatewith their customer.

WOW—Dynamic, Not Static; Active,Not Passive EngagementTo properly engage today’s customer withan ever-decreasing attention span,increased time challenges and constantlyevolving e-commerce options, the malls willhave to up the entertainment andengagement ante to find its mojo, onceagain. The next shoe to drop will be m-commerce (mobile), already a huge forcein Europe and Japan where internet systems

Who, What and Wow - continued

2

continued on page 7

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by Stephanie Cadmus, Mod & CompanyHot SpotsFeatured

Sponsors

Aspen Waste Systems, Inc.To provide service with apersonal approach whilebuilding long-termrelationships.

Chuck & Don’s Pet FoodOutletAt Chuck & Don’s we careabout pets, people, anddoing the right thing. Ourvision is to provide the bestproducts, service, andeducation for our customersenabling them to enrich thelives of their pets. We strive toprovide an environment thatenhances the shoppingexperience for our customersand work experience for ourteam members. We arepassionate about pets, webelieve in what we do, andwe understand and promotehow pets enhance our lives.

Fendler PattersonConstruction, Inc.A “true” design build generalcontractor providingexceptional retail based onquality, service andaccountability.

Fredrikson & Byron, P.A.“Where law and businessmeet.”

Lawn RangerWe are committed toimproving the appearanceand health of our clients’grounds and landscapingwhile providing high quality,cost effective andenvironmentally soundservices.

NorthMarqTo be the nation’s leadingreal estate company in ourcommitment to deliveringexceptional value to clients,creating a special place forour employees and servingthe industry and ourcommunities.

Target CorporationTo be the best companyever for our guests, teammembers, shareholders andcommunities.

Culling the information and resource universe for current trends in consumerism,buying habits and, in turn, the latest and greatest ideas for retail and commercialdevelopment in order to find something new and undiscussed left me realizing that

although there is breath coming back to the marketplace, we’re all still waiting for thecollective exhale. Sales are up and consumers are thoughtfully tip-toeing back into thewater, but what is unclear is which body of water – pool, lake, or ocean? And when, ifever, will people jump back in with both feet, let alone the abandonment of jumpinghead first into the deep end?

As we continue to hold on with a less white-knuckled grip and an air of optimism for theimmediate future, we look for the long term directions that will ensure the future. We canactively tap into, and keep an eye on, the marketplace from an array of vantage pointsvia some great resources. Here’s a short list of a few of the resources I found to be bothinformative and somewhat inspirational.

Springwise.com is all about sharing innovative new business ideas from across the worldutilizing a network of 8,000+ “spotters,” all of whom give an account of the newest, mostunique and promising business ventures, ideas and concepts that are ready for regional orglobal expansion, partnering, investments or support. Springwise tracks business ideas in 20different industry categories from “Eco & Sustainability” to “Financial Services” to “Retail.”One retail offering included a store that only sells cookbooks but provides a test kitchenand café to expand the experience. Springwise generally provides additional informationand resources to allow you to research further, such as the website for this retail cookbookconcept: www.25degreec.com. In addition to their searchable website, Springwise offersweekly e-newsletters free of charge.

Trendwatching.com is similar to Springwise in its use of spotters across the globe scanningfor promising consumer trends, insight and business ideas. An independent trend firm,trendwatching.com relies on their network of “happy spotters” to spot new product ideas,services and consumer experiences. Many of their findings are collected and shared via afree monthly e-newsletter as well as through their website. Visit trendwatching.com to readtheir “10 Crucial Consumer Trends for 2010,” including “Urbany,” “(F)luxury” and “MassMingling.” Trendwatching.com is a website providing content as a business developmenttactic, but that doesn’t mean it doesn’t have good information to share.

DailyCandy.com will satisfy your trend and what’s-happening-now sweet tooth. However,consider yourself forewarned: if you register to receive their e-newsletters, they arrive dailyand your inbox will fill up very quickly with the possibility of over 20 separate e-newsletters.Don’t let this dissuade you. You can control your information load by visiting their websiteon a regular basis as well. Cities on the DailyCandy radar include: Atlanta, Boston,Chicago, Dallas, London, Los Angeles, Miami, New York, Philadelphia, San Francisco,Seattle and Washington, D.C. You can all search or subscribe to one or more category-specific daily emails, including: Home, Fashion, Beauty, Deals, Food & Drink, Culture, Home& Garden, Travel and Gifts.

BrandChannel.com offers information on current business happenings within big brandsand, although tipped more to a brand and marketing viewpoint, BrandChannel offerscurrent information that could direct one to consider trend-changing activities, such as thereport that “Phillips-Van Heusen spent $3 billion to acquire the Tommy Hilfiger company.”Of course, you could subscribe to the BrandChannel e-newsletter, but you can also surftheir website by key topics, including retail. The site reported Urban Outfitters’ robust fourthquarter sales and record profit for 2009, and discussed Urban Outfitters’ plans to launch abridal brand.

Interestingly, Urban Outfitters’ winning formula of youthful, chic, city, urban wares andwearables seems to support one of trendwatching.com’s “10 Crucial Consumer Trends for2010”: Urbany. Hmmm… coincidence, or are we starting to not only spot, but track trendsand potential future opportunities ourselves? I’d like to think we are.

Tap Into Your Own

Trend Spotting

� � Little Caesar’s Pizza will open a new 1,183-sf location in June atTamarack Village in Woodbury.

� � Construction is underway on a new 1,500 sf Sally Beauty Supplystore that will open in May at Woodbury Commons.

� � Additionally, Clothes Mentor will open in May at WoodburyCommons in a new 3,493-sf space.

� � Scottsdale, Arizona-based Nyman Group created the conceptfor Aperitif, a new 270-seat restaurant located at 772 BielenbergDrive in Woodbury. Aperitif features a menu inspired by countriesthat border on the Mediterranean.

� � Bin Wine Bar has opened at Sixth and Sibley in St. Paul’sLowertown. With light fare and wine upstairs and tete-a-tetes inthe private cellar below, the wine bar will offer $1-an-ouncewine flights as well as $200-plus bottles.

� � As an expansion of their Grand Avenue location, AmoreCoffee has taken over the former Cafe Juliahna in West St.Paul at 879 Smith Avenue South and is remodeling. They will beserving house-roasted coffee as well as an expanded menu ofsoups, salads and sandwiches.

� � Kieran’s Irish Pub moved a few blocks into the formerBellanotte on Block E in downtown Minneapolis. Kieran’s newlarger space, with an authentic Irish pub bar that was built toorder in Ireland, opened on March 16th.

� � Now open in Eden Prairie, Hot Mama will open a seventhTwin Cities location in April at the Shops at West End in St. Louis Park.

� � Finnstyle, a store featuring modern Scandinavian décor, hasrelocated to the Designer Marketplace at 160 Glenwood Avenue in

Minneapolis.

� � Inizio gift store is moving to 2309 W. 50th Street in southMinneapolis, next to Broders’ Pasta Bar.

� � Casa Nostra Pizzeria & Ristorante Italiano has opened atHeritage Commons development in Lakeville.

MSCA Connection April 2010

MN Marketplace

M A R K E TEvents

Apr 7 Development/Redevelopment

May 5 Shopping Centers

Jun 2 Transportation

Jun 21 Golf Tournament

July 14 Retail Focus

For program times and more info,please log on to

www.msca-online.com

OFFICERSPresidentStephen Eggert, Target Corporation1st Vice PresidentPeter Berrie, Faegre & Benson LLP2nd Vice PresidentPaula Mueller, Northtown Mall/Glimcher PropertiesTreasurerEric Bjelland, NorthMarqSecretaryDeb Carlson, Cushman & Wakefield of Minnesota, Inc.

DIRECTORSDana Andresen, Chuck & Don’s Pet Food OutletJohn Dietrich, RLK IncorporatedSteve Johnson, Solomon Real Estate Group Inc.Andy McDermott, Shea, Inc.Tricia Pitchford, NorthMarqRonn Thomas, NorthMarqJeff WurstImmediate Past President (as Director):Cindy MacDonald, Kraus-Anderson Companies

COMMITTEE CHAIRSProgramBarry Brottlund, InSite Commercial Real Estate, Inc.Tom Goodrum, MFRA, Inc.MembershipBrad Kaplan, NorthMarqMatt Parten, Doran ConstructionNewsletterChristopher Naumann, Christopher Max Design & Development LLCStephanie Cadmus, Mod & Company, LLCAwardsSteve Young, Arbor Commercial GroupTony Barranco, Ryan Companies US, Inc.LegislativeHoward Paster, Paster EnterprisesJack Amdal, KKE Architects, Inc.Retail Report Janet Goossens, Kraus-Anderson CompaniesJim Mayland, Cassidy TurleyTechnologyTom Madsen, Benson-Orth Associates, Inc.Jase Stumph, RJ Marco Construction Inc.GolfRick Schroeder, Robert Muir CompanyRyan Burke, Kraus-Anderson CompaniesSponsorshipJanele Taveggia, LEO A DALYNed Rukavina, NorthMarqMSCA CaresStefanie Meyer, Mid-America Real Estate – Minnesota LLCJesseka Doherty, Mid-America Real Estate – Minnesota LLC

STAFFExecutive DirectorKarla Keller Torp(P) 952-888-3490 (C) 952-292-2414 (F) 952-888-0000ktorp@msca-online.comAssociate DirectorStacey Bonine(P) 952-888-3491 (C) 952-292-2416 (F) 952-888-0000sbonine@msca-online.comExecutive AssistantDanielle Pelton(P) 952-345-0452 (F) 952-888-0000dpelton@msca-online.com

2010 Leadership

Since self-management in 2000, MSCA and TheCaring Tree have run solely on the staff of one, thentwo and now three. Karla has been with the association for 11 years, Stacey forfive years and Danielle for one year. Together, Karla, Stacey and Danielle areresponsible for the Association as a whole including leadership and strategicplanning to organizing and implementing all programs, events andcommittees.

In addition, the three manage The Caring Tree, founded by MSCA as acommunity outreach project. Karla, Stacey and Danielle work with a separateboard and implement The Caring Tree program as well as year-roundfundraisers. MSCA is always looking for new ideas regarding networking,education, membership benefits or event ideas. They welcome all feedbackand as always, MSCA staff is here to assist members in any way possible andlooks forward to continuing to serve both organizations in years to come! Ifyou’re interested in getting more involved in the organization, just call theMSCA office and Karla, Stacey or Danielle will assist in introducing you to theright opportunity!

Committee Chat

MSCA Staff

msca-online.com4

Primary Career Focus: Building relationshipsEducation: Northwestern College, RosevilleFamily: Husband, Mark and two kids, Katie and NickHobbies: Golfing, camping, spending time with family and friendsVery First Job: K-Mart deliDream Job: Working for a charitable organization helping othersSecret Talent: Sorry, not a very gifted person unless talking falls under this categoryFavorite Food: Mexican along with a CoronaFavorite Book: Just finished school – the only books I have gotten to read are text books – how boring!!Favorite Movie: Sweet Home Alabama – really any chick flick!Mentors: Dad and Mom - taught me that if you respect others good things will come yourway. Curt Glaser, one of my favorite people when it comes to the working world!Favorite Place Traveled: Maui, Bahamas and Canada (both summer and winter)MSCA Involvement: Program and Technology Committees

Primary Career Focus: Attorney, real estate corporate and lawEducation: Augustana College, Sioux Falls; Northwestern University Law School, ChicagoFamily: Wife, Tara, and kids, Rose, Oscar, LincolnHobbies: Reading, carpentry, landscaping Very First Job: Sold turkey legs at the Renaissance FestivalDream Job: Own a tree nursery / farmerSecret Talent: Computer gamingFavorite Food: Giordano’s Pizza - ChicagoFavorite Book: Huckleberry FinnFavorite Quote: “I may be a fool, but I’m not stupid.” - Mike BroichFavorite Place Traveled: Beach vacation on the Mediterranean, between France and SpainMSCA Involvement: Sponsorship and Retail Report Committees

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Meyer and ReimannJoin Mid-America.Mid-America Real Estate-Minnesota LLC is pleased toannounce the addition ofindustry veteran, StefanieMeyer, as the new Principal,Senior Vice President ofBrokerage as well as theaddition of Johnny Reimannas a Retail BrokerageSpecialist and a valued partof the team for the Mid-America Minnesota office.

Mike BroichTarget Corporation

Rhonda PeareGuaranty Commercial Title, Inc.

Member News

Member Profiles

W A T C H

The Checklist Manifesto: How to GetThings Right by Atul Gawande

In The Checklist Manifesto, the authorreminds us that we are living in a verycomplex world and, as a result of this, wemay tend to do things intuitively ratherthan systematically. Also, in our currentworld each task has become so complexthat it cannot be performed well by asingle person. This can often result in errorsof ignorance or ineptitude. It sounds as ifthe checklist approach can be used as away of team building as well as improvingperformance in critical situations. Thisbook was Amazon’s Best Book of theMonth in December 2009.

Linchpin: Are You Indispensable?by Seth Godin

Linchpin, on the other hand, emphasizesthe necessity to become indispensable inthis environment of competition and achanging business climate. The authorsuggests that the best way to approachthis is to become “an artist.” An artist issomeone who acts out of passion andemotion, someone who looks at thingsfrom all angles. This is how we should lookat our work. This should invigorate us,should create change, and help us to seenew opportunities and solutions. Thereviews suggest that this book will helpyou to do these things. One of Godin’ssupporters is Tony Hsieh, CEO of Zappos,and, lets face it, we’d all like to be him!Alan Webber, founder of Fast Companysays, “If Seth Godin didn’t exist, we’dneed to invent him—that’s howindispensable he is! You hold in yourhands a compelling, accessible, andpurposeful book. Read it and do yourselfa big favor. Your future will thank you.”

Small TalkBookmark

There are 2 books I’d like to introduce you to this month:

Have a reading recommendation? Contact Christopher Max Naumann atchristopher@christophermax.org or JudyLawrence at jlawrence@karealty.com.

New Members

Robert JodsaasHorizon Roofing, Inc.

Jim VittCapital Real Estate, Inc.

A.J. SchoeneckerBELFOR USA PropertyRestoration

Christopher YoungdaleBurton Insurance Agency

Anne K. SmithKearney Partners

March

Professional

Showcase

RLK Incorporated is aprofessional consultingfirm that providesservices for developersand communitiesthroughout the UpperMidwest. Founded in1991, RLK currently offersover 50 professional stafffrom our offices locatedin Minnetonka, Hibbing,and Duluth. Theirprofessional staff includescivil engineers, trafficengineers, surveyors,planners and landscapearchitects.

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by Dana Andresen, Chuck & Don’s Pet Food Outlet Program Recap

Retail Investments 2010:

What a difference a year makes! Froma stock market of 6,594 to 10,406;from clients canceling purchase

agreements to the demand on <$2M projectsoutpacing supply; from who is going away towho is going to stay? Our panelists providedthree perspectives on our current marketexpectations moving into 2010 and beyond.

Confidence is returning, says Lou Quilici, whohas been with Inland since 1984. He isresponsible for $2.6B in assets and providedan overview of Inland Real EstateAcquisitions. Inland has diversified over the years and weathered many recessionaryperiods. Inland has sponsored five REITs and purchases for two other entities, anopportunity fund and a 1031. Inland purchases with cash, then finances with 55% leverage.The good news is cap rates on acquired properties are returning to the range of 8-9%.

Dan Levitt stressed that we can’t generalize. We must look at the fundamentals specific toeach property. Smaller is better, and liquidity is slowly returning. Levitt shared graphs thatdemonstrated that REIT implied cap rate declined from December 2008 through January2010, but also a recent, if slight, incline. He also shared that REIT implied cap rates fallingmay be an indicator for the private market into 2010.

Lauri Brunner provided some great perspective from a stock analyst’s point of view.Reviewing a mixed group of 10 public companies, Brunner helped identify potentialpatterns of recovery looking at same store sales and dollar psf sales growth. The forecast ismodest growth. Capital spending will focus on remodels and IT projects over new storegrowth. An interesting analysis was the review of companies’ cash flow patterns. Brunnerexplained several analytical techniques in terms of relation to dollar psf to aid in reviewingcompany performance and in reviewing overall trends.

Overall, the consensus is that through 2010 and into 2011, retail is on the slow climb backfrom this past downturn.

March program presenters left to rightKeith Sturm (moderator), Upland Real Estate Group, Inc. Lou Quilici, Inland Real Estate Acquisitions, Inc.Lauri Brunner, Thrivent Investment ManagementDan Levitt, Ryan Companies US, Inc.

Small Talk

Your MSCA

Website Tip:

Remember that greatspeaker and the topicfrom the last MSCAmeeting? You know theywere good, but whatcompany was she fromand what was his name?

We have a section of ourwebsite dedicated to ourpast presentations whereyou can find the speakersand the slides they used intheir presentations. Go tothe website, click onMeetings located justunder the MSCA logo andthen on Presentations inthe menu that pops upand you’ll be able toselect presentations bydate or author name. Youalso have the option ofviewing the presentationsonline or downloadingthem (unless there areconfidentiality clauses).

The Buyer, Seller & Analyst Perspective

Small TalkWeb Sites:

ICSC Preparations

With the International Re-Con event occurring May 23-25, many in the real estate industry are startingtheir preparations for the trip. These links may help!

www.icsc.org If you are attending ICSC in Vegas, thisis your one stop event coverage. Be sure to sign in, andlook for Re-Con in the events area.

www.visitlasvegas.com This is the site for the LasVegas Convention and Visitors Authority. It’s a goodreference of places to stay and visit if you are travelingto Re-Con.

Social NetworkingBe sure to reference Re-Con and ICSC on various siteslike Facebook, LinkedIn and Twitter. Many conventiongoers are moving to social media to network andconnect prior to the event. Don’t be left out!

On behalf of the Board,we would like to thankyou, our members, for

renewing yourmemberships and to

those involved incommittees, thank you

for your time andtalents.

If you have feedback,please contact any ofthe Board members or

MSCA staff.

Thank You!

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STRUCTURAL & ARCHITECTURAL CONCRETE REPAIR

WATERPROOFING SOLUTIONS FOR NEW & EXISTING STRUCTURES

Engineered Construction You Can Trust. Solving Problems. Improving Investments.

SPS Infrastructure, Inc. is one of the nation’s leading repair and restoration contractors. Our knowledgeable staff leads the industry in providing you with proven solutions for your concrete restoration and waterproofing projects.

SPS Infrastructure has worked nationwide on projects for building owners and property managers both large and small.

are faster and customers routinely use their mobile devices tobuy goods and services.

For the shopping center to truly reinvent itself for a changingretail world, the terms dynamic and active must replace passiveand static. We will need to create unique events, changingvenues, and brand engagement that is personal and highlyrelevant to an increasingly demanding and changingaudience. This may ultimately drive the concept of pop-upstores and temporary tenancies to new and more highlyevolved levels. Leveraging social networks, blogs and othervirtual gathering spaces to drive traffic to special, spontaneousevents, performances and product previews can motivate like-minded brand advocates to act in mass’ energizing a center.

Emerging technology, near field communication (NFC)chips that speak to the consumer through their smartphones, will provide retailers with new methods of customerengagement and personalized offerings. These devicesemployed in “smart displays” will work in close proximity to aproduct or brand venue and will provide special in-storeoffers, and engage the user in a new and dynamic way.

As product distribution channels continue to evolve, theperception of the net being the brand’s first touch-point willincrease. The issue of where and how the customer “actually”engages with the brand will also take on new meaning andimportance. As the size of established retailers continues toincrease and the number of competitors decrease, there willbe added pressure on manufacturers to control their brandand their story, particularly if they are being commoditized inmulti-brand mass retailers, which is likely.

Creating entertaining and highly engaging venues forbrand interface in malls can become the antidote to thisproblem. These interactive venues can celebrate newproducts or ideas to an audience for testing and feedback(think traveling trade shows usually reserved for industryinsiders). Additionally, they become a place for like-mindedpeople to gather and interact. This creates an obviousparadigm shift for the shopping center industry asmanagement’s roles move from pure leasing toorchestrating events and experiences. However, the natureof the shopping center can evolve to become a blendingof product, entertainment and soft branding in a dynamic,kinetic and celebratory fashion. This will fulfill the needs of ahighly diverse audience seeking new and genuine means ofsocialization and human interaction while still having abrand experience, whether or not the mall happens to bethe final point of purchase.

For additional information contact sstein@steinllc.com.

Who, What and Wow - continued from p. 2The Board is pleased to report that MSCA ispoised for a strong year despite the overallconcerns regarding the economic recession.So far in 2010, MSCA has 53 corporate sponsors, whichexceeded the association’s goal, and we are 600members strong. MSCA leadership has taken steps totrim the budget, while still providing excellent services tomembers, such as relevant monthly programs, anenhanced website, better networking opportunities andsolid committees to keep you, our members, engaged.

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