Insights from the 2025 ICSC OAC Event in Tampa Bay, Florida
Transforming Retail: Lessons from ICSC OAC 2025 for The Shops on Broadway
Attending the 2025 ICSC Open Air Conference (OAC) in Tampa Bay was an invaluable experience, not just for gaining industry insights but for shaping the future of our projects—most notably, the transformation of Broadway Commons into The Shops on Broadway, a premier 21st-century shopping, dining, and entertainment destination in Hicksville, New York.
This event provided critical market intelligence, dealmaking opportunities, and direct access to industry leaders, all of which are essential as we execute our vision to redefine the retail shopping experience and create a next-generation retail-entertainment hub.
ICSC 2025 Opening Remarks by Tom McGee
The conference began with a powerful keynote from Tom McGee, President of ICSC, who delivered a data-driven slideshow presentation outlining the current retail real estate landscape. Some key takeaways from his remarks included:
• Retail Sales Growth Continues – Despite economic challenges, consumer spending remains strong, with retail sales up 3.6% in 2024 and projected to grow another 3.5% in 2025.
• Rising Occupancy Rates – Malls and open-air centers continue to see increased occupancy, signaling strong tenant demand for well-positioned shopping centers.
• Surge in Store Openings & Closures – While store openings grew 31% YoY in 2024, store closures spiked in Q4, highlighting the ongoing transformation within retail.
• Retail Development Trends – Due to rising construction costs and interest rates, new ground-up development is slowing, making redevelopment and repositioning of existing retail assets more critical than ever.
For The Shops on Broadway, these insights confirm that our redevelopment strategy aligns with industry trends, reinforcing the importance of experiential retail, strategic tenant curation, and a focus on entertainment-driven shopping experiences.
Key Retail Trends from ICSC OAC 2025
1. Open-Air Shopping Centers Are Thriving
Open-air centers continue to attract high foot traffic due to their convenience, accessibility, and appeal to today’s shoppers. Grocery-anchored centers, lifestyle centers, and entertainment-driven retail destinations are seeing strong demand from both consumers and retailers.
2. The Capital Markets Outlook Is Uncertain
Securing financing remains a challenge, with high interest rates and stricter lending standards impacting retail investments. However, many industry leaders expect investment sales to rise in 2025, creating opportunities for strategic acquisitions and redevelopments.
3. Experiential Retail Is a Key Differentiator
Retail centers that incorporate entertainment, dining, and interactive experiences are outperforming traditional shopping malls. Concepts like food halls, immersive brand experiences, and hybrid retail-entertainment spaces are essential for drawing consumers away from e-commerce and back into physical retail environments.
4. Office-to-Retail Conversions Are Expanding
The office sector continues to struggle, with hybrid work reducing demand for traditional office space. As a result, some landlords are converting underutilized office space into retail, fitness, or experiential concepts to drive traffic and maximize revenue.
5. ICSC Events Drive Retail Real Estate Deals
The 2025 ICSC OAC event was a hub for networking, dealmaking, and tenant-landlord negotiations. Increased retailer participation and a strong investor presence indicate that despite challenges, the retail sector is actively evolving and adapting to new consumer demands.
Why ICSC OAC 2025 Was Invaluable for The Shops on Broadway
For me, attending this conference was not just about learning—it was about applying insights directly to our transformation of Broadway Commons into The Shops on Broadway.
Our goal is to create an innovative, entertainment-driven shopping center that blends retail, dining, and experiential attractions into a thriving, modern destination. The intelligence and connections gained at ICSC OAC 2025 will help us:
• Curate the ideal tenant mix of flagship retailers, specialty brands, and unique dining concepts.
• Leverage capital market insights to make strategic investment and redevelopment decisions.
• Integrate entertainment and lifestyle components that cater to changing consumer preferences.
• Partner with industry-leading retailers and developers to bring our vision to life.
ICSC events provide unmatched opportunities to connect with key decision-makers, investors, and retail brands, making them essential for anyone driving major real estate transformations.
Final Thoughts on ICSC OAC 2025 & The Future of Retail
The 2025 ICSC OAC in Tampa Bay reinforced the strength of open-air retail centers and the importance of strategic reinvestment in retail real estate. The insights gained will directly influence how we execute our vision for The Shops on Broadway, ensuring it becomes a vibrant, high-performing retail and entertainment destination.
For anyone in the retail real estate sector, attending ICSC conferences is a must. The market intelligence, industry connections, and dealmaking opportunities are critical for staying ahead in this rapidly evolving landscape.
I’m excited to bring these learnings back as we continue executing our vision for The Shops on Broadway—and I look forward to ICSC Las Vegas later this year!
• ICSC Open Air Conference 2025
• ICSC OAC Tampa Bay
• Retail real estate trends 2025
• Shopping center redevelopment
• Experiential retail trends
• Open-air shopping centers
• Retail investment opportunities 2025
• Shopping mall transformation
• The Shops on Broadway Hicksville
• Retail leasing strategies
• Retail capital markets 2025
• Mixed-use development trends
• ICSC Las Vegas 2025