Zell: Retail Problems Not the Same Around Globe #SALT2017

May 17 2017 | 6:22pm ET

Money manager Sam Zell said that “Retail Ice Age” facing the mall industry in the United States aren’t universal around the world. Zell made his comments Wednesday during a panel with Mark Mobius on emerging and frontier markets at the 2017 SALT Conference.

The two managers appeared on a panel titled “From My Point of View: Investing Around the World” on Wednesday.

“I don’t think it’s any great revelation that retail in the United States is changing. But you have to look at where we started from,” Zell said.

Zell noted that the United States started on “a factory of real estate” that is roughly two times larger than any retail footprint around the world. Zell said that not only was the U.S. “overstored” in recent decades, but there was also a problem of over-financing for new stores and locations across the country.

Zell then warned that it would be a mistake to think that the current state of U.S. retail mirrors events happening in the same industry around the globe. Zell said his firm owns a shopping center in Mexico where 80% of the store is serviced in cash. He said he doesn’t believe that any shopping center in the Unites States is close to 15% cash.

In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...


From the current issue of