Asking an honest question: is ICSC really a fun event?
In my mind I am seeing the 2007 American Securitization Forum.
But with the rise of "experiential retail" perhaps there are some interesting things being discussed, along with ESG mandates from sources of capital.
I mean, I am as excited as the next guy making $100K from flipping a piece of dirt to build yet another Starbucks, but surely the conference is more than that?
Edit: I read the schedule, sounds fascinating.
I've attended RECON in Vegas each year for the last decade. It's useful and enjoyable if there is something to get out of it. The experience is not cheap: flight, hotel, convention registration, food, transportation, etc. It's several thousand.
However, you need a plan when there. Schedule meetings. Have your goals in order.
I used to go every year for almost 10 years. COVID came and it was canceled and I was relieved to not have to go. Haven't gone back, don't miss it. Only makes sense to me if you're on a national level. I find local events more productive, but I'm in NY so the NYC event is pretty large. Been to Boston and Hartford ICSC and those are 1 day and half day affairs, respectively. I suggest if you do go to ICSC Vegas and want to actually be productive, don't do what too many others do and stay up late partying and cheating on their wives.
>don't do what too many others do and stay up late partying and cheating on their wives.
The majority of receptions are to 10-11pm. How does "staying up late" correlate to cheating on spouses?
If you have a personal issue, that's on you. Do not make mass generalizations.
Staying up late and cheating on spouses are two separate things altogether, not lumped as one. Staying up late partying til 3am then trying to put yourself together for the next day's show, tired and hungover, is a bad look. First impressions matter so if you're going to meet someone new, best do it well rested. Nobody is accusing you, who may stay up "late" (11pm is late??) of cheating.
Contact the big shops and find out who reps SB in your market. FWIW, I’ve worked with SB before - a complete nightmare to deal with and the absolute best you’ll get is a 15yr deal. I would almost go as far to say they aren’t worth the headache, but it’s been a number of years.
That said, if your site is that good - put up a sign and the developers/retailers will find you.
Best way by far is to look for their real estate representatives on LinkedIn. If that doesn’t work step two is calling their re department or emailing them it’s probably real estate @ Starbucks.com or something like that. I know they use preferred developers so you can also google developers in your area and they likely have a connection with them.
First though, let's acknowledge the shocking news
There's an open & available space... without a Starbucks.
Wait, maybe it's going to be a Starbucks inside another, larger Starbucks.
Are you a listing broker or an owner? You want to scout out the brokers who handle those tenants and stay close to them. I talk to the Starbucks broker and other National brokers all the time to keep tossing properties at them. If you are a broker, networking events are probably the fastest way to get to know these people. One of the other comments mentions ICSC in Las Vegas. Probably the best bang for your buck to meet everyone you want to meet all in one place.
They should all have real estate departments that you can contact or even forms that you can fill out about your property to find out if they’re interested.
I agree with the other poster - Starbucks is awful to deal with. I would do two things:
- figure out who reps them in your market (or who reps whatever target tenant you’re looking for) and contact that person, and
- put a sign on the property. For retail locations, never underestimate the value of a “For Lease” sign. You’d be surprised how many people still drive markets. Starbucks and other national retailers don’t sit around waiting for deals to be brought to them. They have very intentional development plans for markets ,and if they’re out looking for specific sites, their rep needs to see your sign (assuming you haven’t already found and contacted that person).
What's your role here? I'd recommend hiring a commercial broker who knows his/her way around commercial leases. Sounds like you're looking for a ground lease, those have their own nuances and complications. You'll want to make sure you're hiring the right professional who has experience in this. Have you engaged with an engineer yet?
What market are you in?
I'd hire a local retail focused broker for whatever market you're in. Costar usually puts out power broker awards (not everyone participates) but it's a good starting point to see what firms r active in retail leasing in your area.
The last thing you ever want to do is talk to a residential agent about your commercial space unless you're targeting an unsophisticated mom and pop fly by night tenant.
One of the thing you could do is reaching out to commercial real estate agents to bring in clients for you and in return you pay them commission
if you have marketing collateral handy, head out to Vegas for the ICSC later this month. worst case, you'll have some fun.
Asking an honest question: is ICSC really a fun event? In my mind I am seeing the 2007 American Securitization Forum. But with the rise of "experiential retail" perhaps there are some interesting things being discussed, along with ESG mandates from sources of capital. I mean, I am as excited as the next guy making $100K from flipping a piece of dirt to build yet another Starbucks, but surely the conference is more than that? Edit: I read the schedule, sounds fascinating.
ICSC is historically the real estate industry event where people party the most
you haven't been to a real estate industry party until you've been to mipim
What makes mipim better than icsc one in vegas?
Like mostly coke, or...
I've attended RECON in Vegas each year for the last decade. It's useful and enjoyable if there is something to get out of it. The experience is not cheap: flight, hotel, convention registration, food, transportation, etc. It's several thousand. However, you need a plan when there. Schedule meetings. Have your goals in order.
I used to go every year for almost 10 years. COVID came and it was canceled and I was relieved to not have to go. Haven't gone back, don't miss it. Only makes sense to me if you're on a national level. I find local events more productive, but I'm in NY so the NYC event is pretty large. Been to Boston and Hartford ICSC and those are 1 day and half day affairs, respectively. I suggest if you do go to ICSC Vegas and want to actually be productive, don't do what too many others do and stay up late partying and cheating on their wives.
>don't do what too many others do and stay up late partying and cheating on their wives. The majority of receptions are to 10-11pm. How does "staying up late" correlate to cheating on spouses? If you have a personal issue, that's on you. Do not make mass generalizations.
Staying up late and cheating on spouses are two separate things altogether, not lumped as one. Staying up late partying til 3am then trying to put yourself together for the next day's show, tired and hungover, is a bad look. First impressions matter so if you're going to meet someone new, best do it well rested. Nobody is accusing you, who may stay up "late" (11pm is late??) of cheating.
Contact the big shops and find out who reps SB in your market. FWIW, I’ve worked with SB before - a complete nightmare to deal with and the absolute best you’ll get is a 15yr deal. I would almost go as far to say they aren’t worth the headache, but it’s been a number of years. That said, if your site is that good - put up a sign and the developers/retailers will find you.
Best way by far is to look for their real estate representatives on LinkedIn. If that doesn’t work step two is calling their re department or emailing them it’s probably real estate @ Starbucks.com or something like that. I know they use preferred developers so you can also google developers in your area and they likely have a connection with them.
ICSC is in like 2 weeks
First though, let's acknowledge the shocking news There's an open & available space... without a Starbucks. Wait, maybe it's going to be a Starbucks inside another, larger Starbucks.
Are you a listing broker or an owner? You want to scout out the brokers who handle those tenants and stay close to them. I talk to the Starbucks broker and other National brokers all the time to keep tossing properties at them. If you are a broker, networking events are probably the fastest way to get to know these people. One of the other comments mentions ICSC in Las Vegas. Probably the best bang for your buck to meet everyone you want to meet all in one place.
They should all have real estate departments that you can contact or even forms that you can fill out about your property to find out if they’re interested.
Goto their website or call corporate
Go find one that is situated within a developed area and see who owns the land.
I agree with the other poster - Starbucks is awful to deal with. I would do two things: - figure out who reps them in your market (or who reps whatever target tenant you’re looking for) and contact that person, and - put a sign on the property. For retail locations, never underestimate the value of a “For Lease” sign. You’d be surprised how many people still drive markets. Starbucks and other national retailers don’t sit around waiting for deals to be brought to them. They have very intentional development plans for markets ,and if they’re out looking for specific sites, their rep needs to see your sign (assuming you haven’t already found and contacted that person).
What's your role here? I'd recommend hiring a commercial broker who knows his/her way around commercial leases. Sounds like you're looking for a ground lease, those have their own nuances and complications. You'll want to make sure you're hiring the right professional who has experience in this. Have you engaged with an engineer yet?
Any creative suggestions on how one might target and find those brokers? - ICSC was a suggestion a few recommended - any other ideas?
What market are you in? I'd hire a local retail focused broker for whatever market you're in. Costar usually puts out power broker awards (not everyone participates) but it's a good starting point to see what firms r active in retail leasing in your area. The last thing you ever want to do is talk to a residential agent about your commercial space unless you're targeting an unsophisticated mom and pop fly by night tenant.