Podcast | Intelligent Investment

Into the Great Wide Open: Why open-air centers are one of CRE’s shining stars

June 20, 2023 37 Minute Listen

TWT Module S4E24-Final

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Many real estate investors are favoring retail right now. We caught up with DLC’s Adam Ifshin—along with CBRE’s Brandon Isner and Chris Decouflé— at the ICSC conference to find out why open-air retail has such compelling allure.

Into the Great Wide Open: Why open-air centers are one of CRE’s shining stars

June 20, 2023 37 Minute Listen

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Unique insights on what matters most today in commercial real estate.

Key Takeaways:

  1. The market fundamentals are strong for the retail sector.
  2. While a recession might be looming, consumers have low leverage and solid balance sheets, so their spending will likely hold up better than in recent previous recessions.
  3. Suburban retail in secondary and tertiary markets is well positioned.


Photo of Adam Ifshin

Adam Ifshin

CEO, DLC Management Corp.

Adam founded DLC in 1991. Since then, he has grown DLC into one of the nation’s premier owners and operators of retail real estate, and one of the most active acquirers of assets with value-added potential. Mr. Ifshin oversees DLC’s acquisitions and dispositions, capital markets activities, redevelopments, joint ventures and corporate strategy, and is well versed in the complex world of foreclosures, bankruptcies and restructurings. As a principal, he has been involved in over $4.5 billion of real estate transactions.

Photo of Brandon Isner

Brandon Isner

Americas Head of Retail Research

Brandon is CBRE’s Head of Retail Research for the Americas, operating as the thought leader and voice for CBRE’s retail markets. With more than 15 years within the real estate world, Brandon Isner is responsible for planning, coordinating, and executing research projects, and providing data support for CBRE operations.

His prime focus has been analysis on disruptive elements within commercial real estate, and how they can be leveraged as a positive. In addition, he has authored several market reports on the rise of omnichannel retailing, and how it relates to brick and mortar retail stores. He has presented thoughts on the commercial real estate market to groups such as the Greater Miami Chamber of Commerce, The Appraisal Institute, The Business Solutions Association, Rotary Club, BOMA, CREW, CUNA, the Downtown Cleveland Alliance, and the Downtown Akron Partnership, among others. Reports he has authored include U.S. Development Opportunities 2021 which compares and contrasts the top 50 markets in the U.S. for commercial real estate development, and Capital, Companies, and People, a narrative on the great migration to South Florida.

Prior to joining CBRE, Mr. Isner worked with Forest City Residential Management in leasing and property management. Previously, he was associated with several residential apartment brokerages in New York City, including Manhattan Apartments, Inc. and Bond New York Real Estate.

A resident of Miami Beach, he earned a master’s degree of urban planning, design, and development from Cleveland State University in 2015. When he is not thinking about commercial real estate and the economy, he can often be found at karaoke venues or performing stand-up comedy at Miami’s own Villain Theater.

Photo of Christopher J. Decouflé

Christopher J. Decouflé

Managing Director, Retail Capital Markets, U.S.

Chris Decouflé leads CBRE’s Retail Capital Markets platform of more than 150 professionals who specialize in the sale, debt and structured finance placement assistance, and recapitalization of retail properties in the Americas.


Photo of Spencer Levy

Spencer Levy

Global Client Strategist & Senior Economic Advisor, CBRE

Spencer Levy is Global Client Strategist and Senior Economic Advisor for CBRE, the largest commercial real estate services firm in the world. In this role, he focuses on client engagement and public-facing activities, including thought leadership work performed in conjunction with CBRE Research. He also serves as Co-Chair of the Real Estate Roundtable’s Research Committee.


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