1/15/2019 | By Nareit Staff
Ernest Rady, president and CEO of American Assets Trust, Inc. (NYSE: AAT), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.
Rady said that retail is in the midst of a “revolution” that benefits the American consumer. “[The American consumer today buys] the best price with the most convenience,” Rady said. In turn, that puts more pressure on retailers, he added. “Retail is going to be tougher than it has been in the past.”
Rady said that American Assets Trust strives for environmental sustainability at its properties, noting that an apartment building in Portland uses technology called NORM that “takes the … waste and regurgitates some of that and reuses some. We put less into the sewers.”
Since its IPO in 2011, Rady said the biggest lesson has been keeping the company’s shareholders in mind. “You have a responsibility to those owners to put your best foot forward,” he said.