LAS VEGAS—As the retail CRE world prepares to attend ICSC Las Vegas this weekend, one message from attendees this year rings loud and clear: the future of retail is experiential, data-driven, and deeply collaborative.
GlobeSt.com caught up with Spencer Jordan, Senior Vice President of Leasing at Columbus-based Steiner + Associates, who is among the industry leaders helping to shape what that future looks like, and she is not mincing words about what is working. “Experiential uses like dining, entertainment, wellness, and even social media engagement will continue to drive foot traffic across retail destinations,” says Jordan. “At Easton (one of the company’s projects) we think of the project as a small village. It’s all about open-air walkability, outdoor patios, boutique storefronts — a curated lifestyle that feels more like a vibrant downtown than a shopping center.”
That “village” concept is more than just branding, she tells GlobeSt.com... It’s a response to consumer demand for destinations that go beyond shopping.
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Jordan points to the rise of tenants like medical spas, chef-driven restaurants, pickleball operators, and grocery anchors as evidence of the sector’s broadening appeal. “Open-air centers are consistently outperforming traditional enclosed malls — we’re seeing longer dwell times, higher traffic, and stronger sales.”
Retailers Are Getting Smarter and More Demanding
As 2025 unfolds, the pace of change is only accelerating, she says. Retailers are leaning heavily into data, from foot traffic analytics to psychographic insights, to inform their real estate decisions. “Retailers want more — more data, more precision, more intelligence,” says Jordan. “If you’re not leveraging tools like Placer.ai or geofencing tech to track and analyze shopper behavior, you’re behind.”
That demand for intelligence is matched by rising pressure on retailers’ bottom lines. Jordan cites wage inflation, shipping costs, cautious consumer behavior, and tariffs as challenges forcing brands to rethink their expansion strategies. “Expect to see smaller footprints, flexible formats, and more sublease activity. Outdoor centers with adaptable lease lines are much better suited to weather this shift than traditional mall formats.”
The Blending of Uses and Expectations
Another trend Jordan sees gaining momentum is blended use within single spaces. “We’re seeing coffee and coworking concepts co-locating to offer a seamless experience. Large-format retailers are looking for ways to diversify their revenue under one roof — it’s about enhancing convenience and elevating the experience.”
Digitally native brands, once focused on hyper-growth, are also shifting strategy. “There’s more selectivity now,” Jordan says. “They’re targeting Class-A centers and proven trade areas, with a much greater emphasis on profitability and long-term sustainability.”
At the heart of it all is a reshaping of the landlord-tenant relationship. “Retailers expect landlords to be true partners,” Jordan explains. “That means curated spaces, integrated marketing support, and access to real-time shopper data. The landlords who evolve into strategic collaborators will be the ones who succeed.”
As the ICSC Las Vegas conference kicks off on Sunday, Spencer Jordan’s vision offers a clear direction for the future of retail — one where experience, data, flexibility, and partnership take center stage.
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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.
