18A — April 29 - May 12, 2016 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Industry survey reflects strong fundamentals and healthy outlook for future ICSC survey: Industry-wide growth in jobs, salaries and bonuses N C-suite level.
age increase of 3.6%. Looking forward, nearly 70% of the re- spondents plan to keep raising salaries this year, indicating sustained confidence. “Particularly for real es- tate companies, compensation tends to be directly tied to per- formance,” said Josh Anbil , a senior managing director at compensation consulting firm FPL Associates. “The survey results indicate that 2015 was a strong year for the industry. This drove increases in sala- ries and bonuses, as well as expanded eligibility for long- term incentives.”
Cash bonuses increased at more than half (56%) of the participating companies. Nearly 90% of the respondents were in hiring mode last year, with demand particularly strong for specialists in prop- erty management, leasing and accounting. Demand was also high for construction and development experts. Sponsored by ICSC and conducted by FPL Associ- ates LP , the 2015 ICSCNorth American Retail Real Estate Compensation Survey is de- signed to provide retail real estate companies with compet-
itive compensation levels and current information regarding the design, features, and ad- ministration of compensation programs. n continued from page 17A Weiss celebrates 50 years. . . Village Shopping and Profes- sional Office Park in Edison, NJ in 1983. “At Weiss Realty we are focused on ensuring that our retail, medical and office tenants are getting the highest and most personal level of service.” said Jaime Weiss. “We are passionate about our reputation in the Edison community which has contributed to the center’s suc- cess serving the Edison and Metro Park area.” Weiss Realty was also re- sponsible for one of the most notable residential investment sales in 2012 when it bro- kered the largest multi-family transaction in recent Bergen County history. The deal was awarded Mid-Atlantic Real Estate’s “Best of 2012” for bro- kering the Largest Multi- fam- ily Sales Transaction of the Year with the sale of the 338 unit Skyline and Boulevard apartment complexes in Hasb- rouck Heights to the NewYork based Kushner Companies for $57.5 million. When Firestone closed its tire manufacturing facilities in Decatur, Illinois in 2003, Jaime Weiss acquired the 2,197,000 s/f, 153-acre prop- erty. This acquisition had a significant impact on Weiss’ career because he went from being a very successful com- mercial real estate broker to a successful property owner and manager. “Going from Bergen and Hudson Counties to Deca- tur and back to Fort Lee has been a monumental opportu- nity for us” added Jaime. “Our diverse array of ser- vices range from your typical brokerage services, to prop- erty management, investment sales and financing. We are always thinking entrepre- neurially, which has helped us achieve great success both for our clients and for our company through the many- real estate cycles we have en- dured and prospered though. 50 years is just the beginning here at Weiss Realty. For more information on Weiss Realty visit www.jweissrealty.com or call Jaime or Matthew Weiss at (201) 814-1800. n
EW YORK, NY — The International Council of Shop- ping Centers (ICSC) has published the 2015 ICSC North American Retail Real Estate Compensation Survey, which highlights the optimism that prevailed in 2015 as com- panies hired staff, sweetened bonuses and boosted salaries. The 240-page report pro- vides overall positive insights into salaries, bonuses, long- term compensation and addi- tional fundamentals for nearly 100 positions in retail real estate ranging from junior to
“The rise in wages and jobs is a welcome sign and speaks to the current strength in the retail real estate industry,” said Tom McGee , president and CEO, ICSC. “This indus- try has seen a solid growth trajectory coming out of the 2008 recession and the overall fundamentals are very strong. The rise in salaries and jobs suggests the industry believes in the continued momentum of overall growth,” he added. Roughly 77% of the surveyed companies said they raised salaries last year, at an aver-
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