Traditional retail might be shrinking, but new opportunities and iterations are presenting themselves. In this evolving landscape, commercial real estate executives play an especially critical role in maintaining the importance of physical stores.
“The outlook for this industry remains bright as long as we anticipate fundamental changes, prepare for them and capitalize,” said Anthony Buono, global president of retail at CBRE.
With that in mind, groups are emerging to help real estate agencies. Case in point: A spokesman for CBRE said Buono has been elected to the International Council of Shopping Centers’ global board of trustees.
In this role, Buono will join the board in its mission to “[help] ICSC achieve its goal of serving its more than 70,000 members globally and proactively advocating and communicating the critical social, civic and economic role played by the retail real estate industry across the globe,” said the spokesman.
Jack Durburg, CBRE Group’s president and chief executive of the Americas, described Buono’s election to the council as an “honor” for the firm and noted that Buono has persisted in his commitment to “help retailers and shopping center owners adapt to — and capitalize on — the fast-evolving retail landscape.”
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According to the spokesman, Buono’s placement initially will be for three years. The decision was revealed at the ICSC’s global retail real estate-focused RECon conference in Las Vegas this week.
Buono is one of nine new trustees who have joined the board, which now totals 56 members.
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