Cushman & Wakefield, a global partner of the International Council of Shopping Centers (ICSC), attended the New York National Deal Making Conference (#NYnDM) that took place on December 5-6 at Jacob K. Javits Convention Center in New York City. The two-day retail con is ICSC’s second largest global event with over 10,000 attendees in over 170,000 square feet of exhibit space. Matthew Fainchtein and Carter Magnin from C&W’s West Los Angeles office were on the scene catching up with clients, collaborating with colleagues, and talking retail market trends.
As one of the top trends for 2017, interest in food retail remains strong with little signs of slowing down, especially when it comes to food halls. In the first three quarters of this year, food hall growth increased by 37.1% year over year fueled by consumer desire for quality and authenticity. As for the popularity of the food hall concept, Carter summed it up thusly: “Food courts are somewhere people go and eat. Food halls speak to a lifestyle.”
In addition to the day events at the conference, C&W hosted its annual ICSC holiday party at the iconic Rainbow Room in Midtown. Brokers from across the country mingled with each other and clients in celebration of the year.
Outside of #NYnDM activities, Matthew and Carter spent a few days checking out New York City’s unique retail spaces and pop-up stores, including the Made By Google pop-up shop on Spring Street where visitors can browse Pixel, Google Home, and Daydream View in person.
“When there’s a lot of vacancy, you see a lot of pop-up stores,” said Matthew. “Landlords want to fill the space, even temporarily, and it also allows retailers to test the waters before making a substantial financial commitment. We are also seeing some very cool concepts being tested in the temporary stores.”
Click on the videos below to see Matthew talk about DTLA’s revival, the growth of fitness amenities, and more from #NYnDM: