Jodie McLean – Cultivating the Garden of “Edens” (#26)

Bio Jodie McLean is Chief Executive Officer of EDENS, one of the nation’s leading private owners, operators and developers of retail real estate. With a more than 25-year tenure at EDENS, she has established herself as a key player in the company’s growth and expansion to its current marketplace leadership, capitalized by blue chip investors and assets valued at $6.5 billion. Jodie McLean is responsible for EDENS’ strategy to move the portfolio to major urban centers, creating a portfolio of assets that are the center of community life. She was named Chief Investment Officer in 1997, President in 2002 and CEO in 2015. Overall, she has been responsible for the development, redevelopment, acquisition and disposition of more than $15 billion in retail assets. She passionately believes that retail should evolve beyond a shopping experience, and advocates for connectivity to the communities surrounding the company’s retail centers. To ensure this, each EDENS development is crafted to serve as an authentic gathering place, including a unique merchandising mix and welcoming design elements, fostering a sense of engagement with its neighbors. A native of Chicago, IL, Jodie McLean holds a Bachelor of Science in Finance and Management from the Moore School of Business, University of South Carolina and a degree from South Carolina Honors College. McLean serves as Trustee and Executive Board Member of the International Council of Shopping Centers (ICSC) and Trustee of Urban Land Institute (ULI). She serves on the boards of Cushman & Wakefield, The Real Estate Round Table, Wofford College and Extended Stay America, as well as boards of several other institutions and charities. Jodie is a member of the Liberty Fellowship (Aspen Institute) Class of 2009. Show Notes Current Role and Perspective of Company Jodie McLean’s life at Edens is “pretty good” (3:00)70% Retailers closed mandated by government (3:30)Role in “Community”- Provide essential services during pandemic (3:50)115 places in 9 major markets (4:20)Role is CEO…went from strategic visionary leader to “chief rabbi, priest, community leader” (5:00)Intuitive work on community building (5:40)Address social issues- 15MM people everyday (6:20)“Enriching Community” is company purpose (6:50)Focus on retail (7:00)2006- Broadband reached over 50% of households and the internet became a dominant force in lifestyle (7:30)Dial up internet shopping was life changing for her (8:25)Went to Town Centers and noticed that they were “all the same” and needed so much land (9:00)Forced herself to be more strategic and develop a “voice” (10:30)Women will drive retail and community becomes the lead (10:50)Shifted to purpose driven property perspective (11:00)De-levered the company to redirect purpose (12:30)Jodie McLean has found Four Trends accentuated by pandemic (12:50)Growth of E CommerceRationalization of retailHyper-localization- Attract people- 17 minute travel timeHealth and Wellness- Trend of isolation and loneliness offset by Community“Leading with Humanity” (15:45) Jodie McLean – Origin Story Raised in Elmhurst, IL with solid Midwestern values (...