NEW YORK, May 23, 2016 – The International Council of Shopping Centers (ICSC) announced today at RECon, the global retail real estate convention, that Elizabeth I. Holland, CEO of Abbell Associates LLC, has been elected by ICSC’s Board of Trustees to serve as the association’s Chairman for the 2016–2017 term. Holland is ICSC’s 57th Chair–and the fourth woman to hold the post in the association’s 59-year history–succeeding Stephen D. Lebovitz, president and CEO of CBL & Associates Properties, Inc., who will now serve on the Executive Board as Past Chairman.
As CEO of Abbell Associates, a 75-year-old private real estate acquisition, development and management company with a portfolio of about 3.5 million square feet of shopping center and office space, Holland oversees the redevelopment and re-positioning of the entire portfolio of projects, including the creation of public/private partnerships, brownfield remediation, and multiple anchor store replacements and relocations.
Prior to joining Abbell, Holland was a senior staff attorney on the National Bankruptcy Review Commission, which was charged in the late 1990s with making recommendations to Congress for bankruptcy code reform. Before Holland’s employment by the Bankruptcy Review Commission, she was a restructuring and business reorganization attorney at Skadden, Arps, Slate, Meagher & Flom, in New York City.
“Elizabeth’s expertise and experience will prove crucial to ICSC as it focuses on promoting the retail development industry’s vital interests,” said Tom McGee, ICSC’s president and CEO. “Her time spent on the National Bankruptcy Review Commission will be especially beneficial as we enter the crucial period following the inauguration of a new U.S. President and look to advance vital legislative initiatives in Washington. Liz's impact will be felt beyond Washington, however, as she assumes this multifaceted role, supporting the industry on every front.”
Holland says she’s up for the challenge, “ICSC must be poised to lead as strong a coalition as it can assemble with regard to e-fairness to get the legislation through in the first term of any new administration.” Her experience also will help in the likely event that tax reform comes to the forefront during the first two years of the next president’s term. It is critical, she asserts, that the retail development industry hold its ground under any new proposals. “We still pay significantly more than other industries; we pay depreciation recapture on the sale of assets; there are many areas of the tax code that are disadvantageous to us, but there are areas that are favorable, so I think a balance has been struck, and I think it’s crucial to ensure the preservation of that balance.”
Holland also has an accomplished track record with ICSC. As Past Chairman of ICSC’s Bylaws Committee and Vice Chairman for the 2015-2016 term, she led the initiative to overhaul the organization’s bylaws and governance procedures. Besides being a trustee, she has served on ICSC’s Political Action Committee and on the ICSC Foundation’s Board, helping raise money for real estate education scholarships. She also is a member of the Urban Land Institute, serving on its Commercial and Retail Development Council.
About ICSC
Founded in 1957, ICSC is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. The shopping center industry is essential to economic development and opportunity. They are a significant job creator, driver of GDP, and critical revenue source for the communities they serve through the generation of sales taxes and the payment of property taxes. These taxes fund important municipal services like firefighters, police officers, school services, and infrastructure like roadways and parks. Shopping centers aren’t only fiscal engines however; they are integral to the social fabric of their communities by providing a central place to congregate with friends and family, discuss community matters, and participate in and encourage philanthropic endeavors. For more information about ICSC visit www.icsc.com and for the latest news from ICSC and the industry go to www.thecenterofshopping.com.