For the second year in a row, the ICSC Western Conference is back in its original locale – Palm Springs! According to lobby signage, however, the event is once again returning to San Diego.
Shifting venues aside, the Western Conference has evolved from its past incarnation. There are fewer exhibitors and a smaller group of attendees. And the energy doesn’t match the same bursting bloom of a decade ago, when thousands descended upon the show floor, surging with excitement.
But on the flipside, those in attendance are there with a purpose and focused intensity. CBM1’s entire CRE leasing + sales team was present, all with meetings set and definite networking and relationship-building goals on their collective agendas.
And this purpose-driven, intentional approach was clearly shared by all in attendance.
As has been the trend for several years now on the exhibitor side, there was a strong showing from tenants (the Retail Runway was buzzing with activity), vendors, and municipalities. Larger national and regional brokerages made themselves known in their typical fashion, with sprawling booths, while fewer boutique brokerages exhibited, opting instead to join the event as attendees using shared spaces to host appointments.
Looking beyond the general overview, here are our most noteworthy conference reflections:
Key Takeaways
Connections + Relationships – As always, the informal meetups with old compatriots and new contacts were the show’s most productive aspect. ICSC forged connections continue to rank among the most valuable.
Tenants Are Still Looking, But Increasingly Decerning – Many of the tenants on hand are clearly in growth mode. But demanding site criteria and acute price consciousness have increasingly narrowed their selection process.
Limited Supply of Desirable Locations – Every tenant wants a prime corner location with high traffic and strong demographics. But there are only a limited number of these spaces available. Which leaves tenants searching and landlords waiting.
AI is a Hot Topic – Several conference seminars and speakers focused on AI. Specifically delving into its impact on the CRE industry, consumer habits, the broader economy, and how this technology may shape the future of commercial real estate.
If You Came to Make Deals, You’re in the Right Place – The word among both CBM1 agents and other brokers on hand is that meetings were productive, with plenty of new business initiated and deals closed.
Until Next Year
Retail real estate, much like the economy as a whole, is evolving. But the signs from this year’s ICSC Western Conference indicate the industry is hungry for growth and progress.
And when we see you again next time, we hope to reflect on another year of big wins!