Article submitted by Carmen R. Austin, MBA, CCIM, Associate Broker for Saurage Rotenberg Commercial Real Estate

Written by International Council of Shopping Centers, [8-8-2014]

Retail REITs are developing new projects again. For several years factory outlet centers were the only new developments the big players were working on. Now supermarket-anchored centers and power centers are also under way, signaling a thawing of the pipeline. Kimco Realty , for one, is seeking new development sites in a number of markets, including Houston, Florida and New Jersey. “It is a recent occurrence, where rents have significantly jumped and national retailers are beginning to be particularly anxious about meeting the store count that they’ve promised Wall Street and internally,” said David B. Henry, the firm’s vice chairman and CEO. “Six months ago we weren’t looking at ground-up development. And I doubt many of our peers were either. So it is a significant milestone.”

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Carmen has been a practicing commercial real estate broker since 2001. She is a graduate of the Louisiana State University (LSU) E.J. Ourso College of Business and the LSU Flores Masters of Business Administration (MBA) Program with a specialization in Entrepreneurship and Real Estate Finance.  Her experience includes past employment as Regional Director of Leasing at Commercial Properties Realty Trust the for-profit arm of the Baton Rouge Area Foundation. Carmen’s affiliations include Louisiana REALTORS®,Greater Baton Rouge Association of REALTORS® Commercial Investment Division, International Council of Shopping Centers, Commercial Real Estate Women, Certified Commercial Investment Member Institute, National Association of REALTORS®, and Urban Land Institute. She is also an active volunteer on the board of directors for the Baton Rouge Gallery, LSU MBA Alumni Association, Junior Achievement of Baton Rouge, and the Junior League of Baton Rouge.  Carmen is a graduate of the Jay W. Levine Leadership Development Academy Class of 2011 and most recently served as the 2010 President of the Louisiana CCIM Chapter. 

Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).