By JLL Dallas
The biggest names in retail are heading to Las Vegas this month for four days of market-impacting deal making.
The International Council of Shopping Centers (ICSC) Global Retail Real Estate Convention plays host to thousands of ambitious decision makers from around the world each year for their annual meeting. Brokers, developers and major retailers are on hand, discussing and completing transactions that bring new restaurants, stores and other retailers to Dallas-Fort Worth and markets across the country.
JLL’s Dallas-Fort Worth Retail team will be attending and we asked three of our local experts what they expect from this year’s conference:
What should local consumers expect in the near future as far as retail?
“More entertainment offerings, more activated bricks and mortar experiences, more convenience delivery.” – Mark Newman, Executive Vice President, JLL Retail
“More of the same — restaurants, entertainment and experiential retail. You’ll also continue to see your favorite retailers try to nail down their ‘right size.’” – Andrew Wiley, Vice President, JLL Retail
“Local consumers should expect retail to continue its evolution into more of a focus on experiential retail. Developments like Legacy West and in particular the Food Hall have changed the way people view retail especially in suburban markets.” – Rob Franks, Executive Vice President, JLL Retail
What expectations should consumers have regarding deals getting done at ICSC?
“The days of lease signings there are only a fable at this point. At its best we are bridging the gap within our deals. Hopefully you push them ever so close and you get them wrapped up after Memorial Day.” – Wiley
“Consumers should expect to get more deals completed in two to three days than they typically do in a month. That doesn’t necessarily mean you will have a signed lease or contract, but it should help push the deal to the finish line. The ability to sit down and get face time with both the client and landlord is invaluable.” – Franks
What’s the most important thing to know about ICSC for those unfamiliar with it?
“Meetings inevitably run behind schedule. Plan for it. People will talk to you there who you can never get to call you back.” – Newman
“The convention encompasses all facets of retail real estate from people around the globe. The convention is three days of meetings and events that help set the course for a year’s worth of production.” – Franks
“Lots of early meetings and at JLL it is about getting connected with all our wonderful colleagues across the country.” – Wiley
What do you expect to achieve at this year’s ICSC?
“We expect to progress deals and problem solve together with other brokers, clients or landlords. Our goal is to use every meeting to either win business or move current deals to the next stage and overcome any hurdles that may have arisen previously.” – Franks
“It’s a great opportunity to cement existing relationships, connect with all my contacts, increase deal pipeline with existing clients, beef up JLL Retail DFW brand nationally, and get some touches in for new business.” – Newman
“Getting answers from retailers who have been paralyzed by uncertainty, while also looking for creative ways to re-purpose old, outdated retail.” – Wiley