As retail real estate leaders head to ICSC Las Vegas in a few weeks, they’re arriving with both eyes wide open—tracking evolving consumer patterns, macroeconomic pressures, and surprising sources of optimism. From shifting site strategies to the growing footprint of lifestyle centers, experts we spoke with say the conversations in Las Vegas will reflect a sector adapting with grit and intelligence.
For Gregg Haverstick, Enterprise Managing Consultant at RealFoundations, much of the current retail landscape comes down to one word: impact. “One of the most pressing issues we’re monitoring is the ripple effect of tariffs,” Haverstick tells GlobeSt.com. “They’re not just raising costs on goods; they’re putting real pressure on everything from occupancy costs to underwriting and overall spend.”
But amid the friction, Haverstick sees notable forward motion—particularly in how retail spaces are being reimagined. “The continued rise of lifestyle centers is something I’m watching closely. This idea of blending retail with places to live, work, and play isn’t new, but what is new is the level of thoughtfulness in how these environments are being executed. We’re seeing higher-impact, more purpose-driven developments taking shape.”
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Kenneth Katz, principal at Houston-based Baker Katz, echoes the attention to market pressures, especially those playing out in the bankruptcy courts—but he doesn’t see it as doom and gloom.
“Covid accelerated the decline of some weaker retailers who were already on the edge,” Katz tells GlobeSt.com. “What we’re seeing now is a reversion to a more typical pace of closures. Retailers like Conn’s HomePlus, 99 Cents Only Stores, Joanne Fabrics, Big Lots and Party City have all filed in recent months, but the majority of those boxes are getting re-leased quickly—and at higher rents, to quality tenants.”
Still, Katz cautions that broader economic instability has dampened the optimism that defined the start of the year. “The tariff wars have thrown a wrench into what began as a very hopeful 2025. Public market volatility and unstable interest rates have created real hesitation. We’re seeing that in the pullback from buyers, but also among developers, lenders, and retailers themselves.”
As ICSC Las Vegas approaches, all of the experts we spoke with in advance of the event agree that the value of gathering face-to-face has never been higher. Keep checking back for more insights from retail leaders in the weeks ahead.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
