Top Takeaways: ICSC Monterey Conference & Deal Making
March 14, 2019
The Barry Slatt Mortgage team attended last week’s annual ICSC Monterey Conference & Deal Making event in Monterey, California. The following are our top takeaways from this year’s event.
- Retail continues to be a highly sought-after asset type however the segment is currently undergoing an “evolutionary” phase.
- Don’t be surprised to hear of more store closures for retailers who have not been able to adapt to customers craving for more service and experiential retailers – It’s about “creating a place” for customers to experience life with family and friends.
- Technology will be a bigger focus for retail leasing and property management. AI, Geo-fencing and Big Data are the next evolution to fill landlord vacancies and help retailers pick the right locations to open and expand their business.
- Generation Z and Millennials continue to grow as critical target customers. These “kids” are growing up and rather spend their money on a nice dinner than the newest pair of high-tops (but they still want the high-tops too).
- Financing is still widely available for all retail types but lenders will be taking a closer look on tenant credit, strength, and lease terms. If you’re worried about the cycle, get the longest term fixed rate you can find.