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Media Contact:
Christine Ziomek
chris@caryl.com
(201) 796-7788
June 20, 2011

Madison Commercial Real Estate Services Sees Uptick In New Deals As A Result Of Recon

Rebound in Activity Fuels Optimism for Commercial Real Estate Industry

LAKEWOOD, N.J., June 20, 2011 – With the retail real estate industry setting its sights on expansion, top executives from Madison Commercial Real Estate Services (MCRES) recently returned from the world’s largest retail real estate conference with word that “the buzz is back.” After several years of a down economy, optimism ran high at this year’s RECon, the global retail real estate convention sponsored by the International Council of Shopping Centers (ICSC). Attendees were encouraged by a rebounding market in key areas and an increase in available financing and properties.

MCRES’ leadership team was headed by Elliot S. Zaks, Director of Operations, and included executives from several of its subsidiary companies, including Madison Title Agency, Madison SPECS, LeaseProbe and Real Diligence. “Attendance at RECon was way up this year,” said Pat Anarumo, Vice President of Sales for MCRES’ NY Operations, “and there was a buzz of activity that we haven’t seen in a couple of years. Real estate developers and investors have capital that they need to put to work, and we are already converting that interest into new deals.”

Areas of strength noted by the MCRES team include:

  • title insurance, which is benefiting from the need for transactional support in retail property purchases, sales and refinancing
  • cost segregation studies, to accelerate tax deductions and improve cash flow in order to explore new retail real estate investment opportunities
  • financial due diligence, especially critical when considering an investment in distressed assets, and
  • lease abstracting prior to making an acquisition, merger or assignment.

ICSC estimates that approximately 25 percent of all shopping center development projects are the result of RECon. “Based on the networking and deals we saw at this year’s convention,” Anarumo noted, “our forecast is that activity in the commercial real estate sector will start picking up as we head into the summer and fall.”

With nearly 30,000 attendees and 1,000 exhibitors, RECon, which took place May 22-25, is the premier global event for retail real estate professionals. ICSC is the global trade association of the shopping center industry. Its 50,000 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials.

Madison Commercial Real Estate Services, with more than $75 billion in transactions insured, is an umbrella organization that offers an array of specialty services for the commercial real estate market nationwide.

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