New York, NY ICSC’s annual New York Deal Making is the premier retail real estate networking and professional development event in the city. Over the course of three days, the retail real estate community gathers under one roof to exhibit, make deals, announce business developments and share insight about current industry topics.
One of these topics is the growth of new retail tenant classes. Amid the ongoing retail renaissance, property owners are adapting their spaces to meet the needs of the twenty-first century consumer. As long-occupied and often-sizable spaces come back on the market, owners and managers are looking beyond the traditional tenants to fill them. In doing so, retail real estate properties are diversifying offerings for their communities, which, in turn, increases foot traffic throughout the day and evening. This growing activity at restaurants, fitness centers and entertainment venues drives spending to existing retailers and boosts overall center productivity.
New York Deal Making will reflect these industry shifts with feature areas of focus on the show floor. These “Destinations” will highlight the new tenant classes including food and beverage, healthcare, and fitness through new exhibitors and panel sessions.
Seamless integration of technology is paramount to the new retail experience, and brands are working hard to implement creative attractions for the consumer. For instance, 46% of retailers say they’ll use AR and VR to drive revenue by 2020. Tech Connect brings together technology visionaries and retail real estate decision makers to reimagine retail offerings. Exhibitors include American Tower, Placer.ai and Reonomy.
The conversation is no longer bricks versus clicks but how the two benefit each other. Many digitally-native brands are opening stores, recognizing the value physical space brings to sales and brand awareness. Retail in Focus showcases these digitally-native brands plus the most innovative retail concepts, product curators, immersive content creators and others entering the retail real estate industry. The Destination connects brands looking to grow their physical presence with companies that can help execute brick-and-mortar strategies.
37% of shopping center visitors spend their money on fitness and wellness. This growing tenant sector forms the basis of the Health & Wellness Center at New York Deal Making. There, wellness, fitness and real estate professionals unite to gain market knowledge, build networks and discover what’s ahead for these industries totaling over $10 trillion. Exhibitors include Buxton, CVS Health, Envoy Net Lease and Planet Fitness.
In the past ten years, shopping center space leased for food and beverage in the US has increased by 39%, growing to comprise 8% of total GLA in the U.S. Highlighting this popular tenant class, Food & Fun connects the best of the best of the experience economy, offering a firsthand look at growth-focused dining and entertainment tenants.