News Release - 9/1/97

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News Releases - Sept. 1, 1997

The Real Estate Transformation Group

property strategies for the information age(sm)

mark@borsuk.com

(415) 922-4740 / FAX 922-1485

1626 Vallejo Street

San Francisco, CA 94123-5116

PRESS RELEASE

Mark Borsuk, Managing Director, presented the paper, an expanded version of his February 1997 article in Urban Land (www.uli.org), at the Urban Land Institute’s High-tech Horizons Conference in Reston, Virginia on May 16, 1997.

THIRD WAVE WIPEOUT describes how, in three to five years, cybershopping will cannibalize a growing portion of in-store sales, causing a decline in retail space demand, rents and property values. As a result, many landlords could suffer the equivalent of corporate downsizing.

Borsuk states, “In the Information Age, the grand alliance between landlords and retailers dissolves into negative symbiosis as sales migrate online.” Morgan Stanley’s “The Internet Retailing Report” also sees a rapid growth in online shopping (www.ms.com).

On Monday, September 22, Borsuk will speak at the National Retail Federation’s Financial Executives Conference in San Diego. His talk is titled “THIRD WAVE CHUTZPAH: Retailer leasing strategies for a wired world.” The topic may startle retailers who have yet to consider how online shopping changes geocentric buying habits and the resulting impact on stores.

The Real Estate Transformation Group is a firm advising landlords, tenants and lenders on how information technology impacts real estate demand and values. In addition to consulting, Mark Borsuk is a retail leasing broker and real property attorney practicing in San Francisco.

Contact: Mark Borsuk (415) 922-4740 / mark@borsuk.com .

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