REITs: Key Takeaways From ICSC 2026

Research evidence excerpt

REITs: Key Takeaways From ICSC 2026

Deutsche Bank

Research

North America Industry Date

REITs REITs 21 May 2026

Key Takeaways From ICSC 2026

Omotayo Okusanya

Demand Supply Trends Still Very Bullish Despite Weaker Consumer Headline Research Analyst

We left the just concluded ICSC conference more convinced that the solid +1-212-250-9284

fundamentals that the retail real estate sector has been experiencing remain alive

and well. This is despite recent macro concerns around the overall health of the Rafi Lewis

Research Associate consumer.

Attendance at the conference (25,000+) was very strong with Retail REITs all Samuel Ohiomah

Research Associate

commenting that they had very full/record meeting volume - with a higher skew +212-250-0057

towards meetings focused on new leasing, acquisitions and development. One

Mall REIT remarked to us that retailers looking for space showed up unannounced

at their booth. Simply put, demand trends remain very strong as retailers battle

for the limited amount of supply available. The visible number of participants with

a focus on advisory services geared towards funding, acquisitions and

development also indicate that the demand for additional space is growing. A

Retail REIT we met with commented that retailers are more than willing to wait

18-24 months for redevelopment to be completed now given the limited amount

of available space.

Overall commentary around the state of retailers remained very bullish with the

Retail REITs indicating strong demand from traditional retailers expanding into

new markets, launching brand extensions or testing out new distribution

strategies (mainly open-air centers and outlets). There was also a lot of discussion

around relatively new retail concepts that were expanding quickly such as Alo, as