Retail: What happens in Vegas does not have to stay in Vegas

I walked out of the building onto a concrete pool deck. As I passed through the shadows of the tall hotel behind me, I was not sure what to expect. It was hot, 90 degrees, and the wind whipped at me across the vast expanse of concrete. I walked towards a small group sitting by the side of the pool. The first person I encountered sat up to greet me, I shook his hand and said "Hi, I'm Gene Spiegelman and I'm reporting to work." The date was May 17th, 1993. This was my first day on the job as a retail real estate broker. The location was the Hilton Hotel in Las Vegas Nevada, and my first day working at the Edward S. Gordon Company, a legendry New York real estate firm. My new boss thought it was a good idea if I started my career in retail real estate at the ICSC Spring Convention in Las Vegas. I was very excited, my first time in Las Vegas, and I could never imagine that I would recount this story 22 years later. May 17th, 2014 will mark my 23rd ICSC Spring Convention. It's a homecoming of sorts for me, however the true value of the journey to Las Vegas each year is the undeniable fact that the Spring Convention has proved to be the single most important industry event I attend each year, hands down! As we turn the page to April, the ICSC buzz begins to wind its way through the industry. Some consider it a burden. Others consider it a party. I consider it a remarkable business opportunity with the chance to have some fun as well. As you read this, my preparation for ICSC has already begun. A full calendar of meetings will be scheduled. Each meeting has a purpose; for me, my clients and the people sitting across the table. No time to waste. This is a deal making convention in every sense of the word. Deals get started. Deals get advanced, and deals get positioned to close. However, I did witness an actual lease signing in Las Vegas. Only one however! In between these meetings, the optimum atmosphere for networking unfolds. Walking the aisles of the convention center, sitting at a black jack table, having dinner in a restaurant, chatting at a cocktail party, and at times, swimming in a pool. Let me tell you about one of those times. The story you are about to read is true! When it's 98 degrees outside, the best place to be is in a pool. This is where I was on Saturday May 16th 2009, in the pool at the recently opened Encore Hotel. As I was leisurely making my way across the pool, while checking out the eclectic scene around me as the the beat of Lady Gaga's Poker Face rang through the air, I encountered a property owner who I have known since my early days in the business. He was lounging on what's known as a Lily Pad, a shallow patio of lounge chairs immersed in the pool. He said to me "Gene, I want to introduce you to a friend of mine. He is a prominent retailer looking for a new store in Manhattan." An introduction was made. I shook this gentlemen's hand. Our hands were wet, as we met with hats and sunglasses on, an unceremonious introduction for sure. The story is simple. That single introduction in the pool at Encore resulted in a 60,000 s/f Manhattan lease, without a doubt, one of the most important deals of my career. This past week, I shared dinner with this gentleman as we celebrated another deal we recently closed together. Five years on, we fondly recounted this story and laughed about it as we recalled the vivid scene at the Encore pool that day and thought how truly surreal it was, as I'm sure you can imagine. The moral of this story is that a great relationship was born at ICSC, one of many over the years. I can share more than a few stories that have resulted in lasting relationships and deals consummated as a direct result of ICSC Las Vegas, but this introduction was undoubtedly my finest experience. As you prepare to head west, truly value the opportunity to come to Las Vegas and do everything in your power to make the most of it. Remember, what happens in Vegas does not have to stay in Vegas! Gene Spiegelman is vice chairman, retail services of Cushman & Wakefield, Inc., New York, N.Y.