Redefining Anchors and Reimagining Community: Takeaways from the ICSC+ U.S. Law Conference
As a first-time attendee of the ICSC+ U.S. Law Conference, I wasn’t sure what to expect when I arrived in San Diego. Some things were immediately apparent—many of my G&S colleagues were seasoned ICSC participants—well-known throughout the community—and the conference promised invaluable opportunities to strengthen relationships with colleagues, opposing counsel, current and potential clients and industry contacts alike.
Community: From the Conference to Consumers
This year’s theme, community, proved particularly fitting. Not only did it capture my personal experience with attendees at the conference, but it also reflected session discussions highlighting a real consumer appetite for placemaking and connection. Panelists noted lower vacancy rates in general retail and a renewed interest from tenants in maintaining (or in some cases, even expanding) their footprint following years of the predicted “death of brick-and-mortar retail.” Conversations on exclusives and co-tenancies emphasized themes like collaboration and synergy— “rising tides raise all ships”—underscoring the need to be more thoughtful about necessary or prohibited tenants and uses as the market continues to evolve.
Re-Anchored: When The “Big Ship” Isn’t What You’d Think
I had the opportunity to lead a roundtable discussion about recent trends in anchor tenants at strip and lifestyle centers, exploring the challenges these new use classes present in lease negotiations, permit compliance and day-to-day operations. The discussion was lively, with participation from attorneys representing major grocery chains, fast-food brands, and shopping center owners and developers across the country. Despite the variety of perspectives, one thing was clear—the definition of a “typical” retail anchor has changed. Instead of traditional department stores, people are now seeing places of worship, thrift shops, experiential users and even residential uses, each of which present a number of unique leasing considerations related to hours of operation, parking demand, traffic patterns and noise (after all, department stores weren’t designed to contain the sound of a Sunday organ).
My G&S colleagues also presented a number of dynamic topics, including:
Lease transfers and change of control provisions - Kevin Gaughan
Core leasing and practice concepts for newer attorneys - Jennifer Jones
Bankruptcy - Vanessa Moody
Recent developments in case law - Melissa Rivers
Tenant buildouts and work letters - Julia Rosequist
Now that I know what to expect from next year’s ICSC+ U.S. Law Conference, my expectations are high and I’m already looking forward to another year of learning, connection, and community.
