By JLL Austin
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 Austin and markets across the country.
JLL’s Austin 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?
“Retail is strong in the ‘Food and Beverage’ and entertainment categories. Expect retailers to create a great experience in order to compete.” – Jon Switzer, Senior Vice President, JLL Retail
“Lean developments focused on core needs, not as influenced by e-commerce.” – Barry Haydon, Senior Vice President, JLL Retail
“A diverse mix of uses and services within retail projects.” – Austin McWilliams, Senior Vice President, JLL Retail
What expectations should consumers have regarding deals getting done at ICSC?
“ICSC allows for deals to move at an accelerated pace due to face to face meetings.” – Switzer
“There’s smaller tenant focus, less anchor and junior anchor variety.” – Haydon
“I learn the wants, needs, processes, from people in hopes of making a lot of deals with them in the future.” – McWilliams
What’s the most important thing to know about ICSC for those unfamiliar with it?
“It’s a great opportunity to meet others and get new ideas. It gives us a chance to gain a better understanding on what’s happening in other parts of the country and around the world.” – Haydon
“Spend time building relationships; they are critical to making deals and learning market information.” – McWilliams
What do you expect to achieve at this year’s ICSC?
“ICSC is an opportunity to pitch to new prospects, both on the landlord side and the tenant representation side. I expect to meet with several prospects.” – Switzer
“Finalizing current deals, getting traction on stalled transactions, presenting in person to key decision makers and making connections.” – Haydon
“A true sense of the market. Getting a global feeling from retailers, developers, brokers – are they optimistic or pessimistic on the market?” – McWilliams