Despite the media coverage and newspaper headlines all pointing to the demise of traditional shopping centers, the reality is far more nuanced than what news outlets suggest. In fact, shopping centers have become somewhat of a cultural symbol, representing, for many, a nostalgic period in their lives.
The rise of commercial leasing at these shopping plazas is a testament that your local strip mall still has a few tricks up its sleeve. So, where does the ICSC fit into all of this? Let’s find out.
What is ICSC?
The International Council of Shopping Centers (ICSC) is a global trade association that serves the retail and real estate industries. It is a non-profit organization that was founded in 1957 and is headquartered in New York City, USA. The primary goal of the ICSC is to improve the shopping malls and distribution of consumer goods and services. The following is a quick breakdown of the ICSC.
Global Reach
The ICSC operates on an international scale, with members from various countries around the world. It provides a platform for professionals in the retail and real estate sectors to connect, collaborate, and share knowledge on a global level.
Advocacy and Research
The ICSC is actively involved in advocating for the interests of the shopping center industry. It conducts research and provides data and analysis to help members stay informed about market trends, consumer behavior, and relevant industry issues.
Conferences and Events
The ICSC organizes conferences, forums, and other events throughout the year to bring together industry professionals. These events provide opportunities for networking, learning about industry best practices, and staying updated on the latest developments in retail and real estate.
Educational Programs
The organization offers educational programs and resources to its members, including workshops, seminars, and publications. These initiatives are designed to enhance the professional development of individuals working in the shopping center industry.
Industry Standards
The ICSC plays a role in establishing and promoting industry standards and best practices. This helps ensure that the shopping center industry operates efficiently and meets the needs of both consumers and businesses.
ICSC Conferences In New York
Despite the efforts of organizations such as the International Council of Shopping Centers, US shopping centers are experiencing a shrinking proportion of commercial leasing when it comes to retail units; a reality that property managers are working tirelessly to combat via real estate conventions and working together with platforms, such as the ICSC, that are dedicated to supporting the growth and sustainability of shopping centers.
If you’re thinking of entering the area of commercial real estate, you will need the experience and expertise of Milbrook Properties to help you get started.