Top Takeaways: ICSC Monterey Conference & Deal Making

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.

1. Retail continues to be a highly sought-after asset type however the segment is currently undergoing an “evolutionary” phase.
2. 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.
3. 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.
4. 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).
5. 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.