The retail real estate industry is entering ICSC Las Vegas with momentum, confidence, and a fundamentally different supply-demand dynamic.

Recorded live from the SiriusXM Studios at Wynn Las Vegas ahead of ICSC Las Vegas 2026, this special episode of Retail Retold brings together two of the industry’s most influential voices: Tom McGee, President and CEO of ICSC, and Adam Ifshin, Founder and CEO of DLC.

The conversation dives directly into the biggest themes shaping retail real estate today, including the unprecedented strength of the open-air shopping center sector, the ongoing supply and demand imbalance in retail space, the rise of PropTech and AI, and the resilience of the American consumer.

McGee shares why this year’s ICSC Las Vegas feels different from previous years, pointing to the launch of ICSC+PropTech and ICSC+Women in CRE as major new initiatives designed to meet the evolving needs of the industry. With more than 180 technology companies participating in year one, the discussion highlights how AI, operational technology, and data-driven decision making are rapidly changing how landlords and retailers operate.

Adam and Tom also explore why retail fundamentals remain exceptionally strong despite economic uncertainty. They discuss rising traffic at value-oriented shopping centers, the lack of new retail construction, the importance of employment stability, and how retailers have become more operationally disciplined since the pandemic.

The episode closes with a forward-looking conversation about AI’s impact on the shopping journey, why physical stores remain central to retail, and how consumer expectations will continue to evolve in an increasingly tech-enabled world.

Whether you are attending ICSC Las Vegas or following the future of retail real estate from afar, this episode offers a timely look at where the industry is heading next.

• Why ICSC Las Vegas 2026 feels different from previous years
• The launch of ICSC+PropTech and ICSC+Women in CRE
• Why retail real estate fundamentals remain historically strong
• The ongoing supply and demand imbalance in retail space
• How AI is reshaping retail operations and consumer behavior
• Why physical stores remain critical in an omnichannel world
• The resilience of the American consumer despite inflation concerns
• How retailers became stronger and more disciplined after the pandemic
• Why value-oriented shopping centers continue gaining traffic
• What the future of retail development and leasing may look like

00:00 – Welcome from the SiriusXM Studios at Wynn Las Vegas

02:15 – Why ICSC Las Vegas 2026 feels different

05:48 – The launch of ICSC+PropTech and the future of retail technology

11:32 – Leveraging ICSC’s scale to drive innovation

14:05 – The state of the American consumer

20:40 – Why value retail continues to outperform

24:12 – Retailers becoming more disciplined and resilient post-pandemic

29:08 – The supply and demand imbalance in retail real estate