After nearly 20 years of bouncing between San Diego and Los Angeles, the ICSC Western Division Conference is finally back to where it all began – Palm Springs!
In true desert form, temperatures peaked at a blazing 109 degrees for all three conference days. Fortunately, the Palm Springs Convention Center’s climate-controlled interior kept things cool as the deal-making action heated up!
In terms of size, activity, and vibe, this year’s event wasn’t much different from prior conferences in San Diego and Los Angeles. Many old-guard brokers were happy to be back in Palm Springs, and those newer to the game appreciated the change of location.
There is no denying that the show is changing. The once palpable surge of energy as the doors on the deal-making floor opened has been replaced by a less intense and more collegial atmosphere. Deals may be getting done, but the gathering now focuses more on making new connections and reconnecting with existing contacts.
Acknowledging this shift, we polled three CBM1 agents, each at a different stage of their careers, for their take on this year’s ICSC Western Division Conference.
Geoff, CBM1 Co-Managing Principal
In the retail real estate game since 1999, Geoff Grossman definitely ranks among the old guard pleased to be back in Palm Springs. Moreover, he recognizes the show’s changing dynamics.
“We’ve long approached ICSC with three goals: See and be seen, build more personal connections, and give our agents a platform to make deals.
“The see-and-be-seen aspect was a win! Our booth looked great, the location was solid, and we saw all our old friends and colleagues and made some new acquaintances, too.
“In the past, ICSC offered landlords and tenants a neutral venue to meet face-to-face and hammer out challenging deal points. But in the post-pandemic world, with the rise of Zoom calls and video chats, in-person meetings have declined. And this shift is reflected in ICSC. There’s no denying the value of direct interaction, putting a face to name and voice humanized the parties involved. Technology, however, makes this possible without the necessity of being in the same room.
“The deal-making piece is also different. Several agents told me clients, prospective landlords, and other brokers they intended to make appointments with or expected to see weren’t at the show. Meanwhile, attendance wasn’t down. There were plenty of vendors, many we’d never seen before, particularly in the technology realm. And the municipalities were out in force. But overall, the show’s focus is changing. Presence and networking appear to be taking precedence over deal-making.”
Aaron Guido, CBM1 Senior Vice President
A veteran leasing and sales broker with nearly a decade of experience at CBM1, Aaron came to do business. He hosted several meetings at our booth and connected a couple of tenants he’s reps with potential landlords.
“The outlook [among those I encountered] was very positive. List brokers are steadily picking up new inventory and working deals. The tenants I spoke with [AutoZone, Great Clips, Firehouse Subds, Big Five] want to make deals. And landlords are actively courting tenants, eager to fill their vacancies.
“Activity had been a little stagnant coming out of the summer season. But the scene at ICSC proves that the business is strong, and deals are happening.”
Andrea Cronin, CBM1 Associate
As a leasing and sales agent with only a few years of experience, this was Andrea’s first ICSC event.
“The networking opportunity was huge for me. Coming out the day before [the deal-making show] proved to be a wise move. Attending the [ICSC sponsored] cocktail party and networking outside the show [at parties hosted by various exhibitors] was an education itself.
“Being relatively new to retail, I’m still learning the ins and outs of the business. And veteran brokers were very generous in sharing their experiences with me, outlining what it takes to make it and build a successful career in this industry.
“The [deal-making show] was poppin’ from 9 am – 1 pm. In the future, I will focus my energy on working the show during that timeframe. And that includes connecting with retailers early in the show. I had assumed they would be presenting at the Retail Runway [hosted during the show’s final hours], and many had left by then.
Change is Inevitable
Three experiences, takeaways, and perspectives on this year’s ICSC Western Division Conference. Networking, relationship-building, and deal-making are still at the heart of this long-running event. But how these things happen is evolving, much like the retail real estate industry itself.
Regardless, the show was a successful outing, and we are proud to be included. For those we connected with, it was great to see you! And for those we missed, we look forward to catching up the next time around.