In this Retail Retold Replay, Chris Ressa dives into the winding path of a complex lease deal at a DLC shopping center in Cheektowaga, NY — where Five Below ultimately took the space, but not before a rollercoaster of negotiations, tenant terminations, and lessons in legal vs. physical possession.

The story starts with Office Depot downsizing, a prospective tenant backing out, and ends with a successful Five Below opening. Along the way, you'll hear why contingencies in commercial real estate deals are everything — and how timing, relationships, and flexibility can turn a near-miss into a win.

A must-listen for anyone in leasing, development, or deal-making.

Takeaways:

• Buy now, pay later options are on the rise and appealing to younger consumers, and retailers are investing heavily in buy now, pay later platforms.
• Supply chain challenges can vary based on ordering behaviors. Retailers who continued ordering during the pandemic are better positioned.
• Five Below's entry into Cheektowaga, NY involved complex negotiations.
• Possession in commercial real estate can be legally defined but physically contested.
• The importance of having tenants who are committed to their locations.
• Understanding the contingencies in real estate agreements is crucial.

Chapters

00:00 Introduction to Retail Retold

02:47 The Buy Now, Pay Later Craze

05:40 Supply Chain Insights

08:20 The Five Below Story

Through the lens of a single neighborhood shopping center in Lawrenceville, GA, Chris Ressa lays out a compelling story of what’s happening across retail real estate today—and why the industry isn’t just surviving, it’s thriving.

Despite headlines about disruption and store closures, America is undersupplied when it comes to retail space, and demand is surging. In Lawrenceville, post-COVID success triggered a leasing domino effect that brought in over 40,000 SF of new tenants and added nearly $800K in NOI.

Takeaways:

• The power of low supply and high demand and how it’s reshaping site competition
• A behind-the-scenes look at a grocery-anchored center’s three-year transformation
• The diverse, modern tenant mix redefining “normal” retail—think healthcare, beauty, food, and auto alongside legacy brands
• How smart reinvestment and strong market forces create a flywheel of growth
• Why traditional metrics like “retail per capita” miss the mark in today's environment

Chapters

00:00 Retail Real Estate Fundamentals Post-COVID

05:23 The Lawrenceville Case Study: A Retail Success Story

09:28 The Evolution of Retail Tenant Mix

Summary

In this episode of What's in Store, Chris Ressa and Karly Iacono hold their feet to the fire—revisiting bold predictions made at ICSC to see what held up, what flopped, and what’s next. From the unshakable rise of value retail to the surge in food and beverage concepts, they dissect the real trends shaping retail today. They dig into the tug-of-war between experiential and convenience, the true state of omnichannel, and why sustainability is more than a buzzword. It's a candid, no-fluff look at where retail is heading—and how close they came to calling it right.

Takeaways

• The retail industry is experiencing a tight supply and high demand for space.
• Experiential retail is evolving, but convenience remains a priority for consumers.
• Omnichannel retailing has become a standard expectation for most retailers.
• Sustainability initiatives are not currently driving business decisions in real estate.
• Redevelopment and repurposing of properties are slower than anticipated due to various challenges.
• Food and beverage concepts are thriving, with a notable increase in coffee sales.
• Value retailing continues to be a strong focus for consumers amid economic pressures
• The conversation around tariffs and AI was less prominent than expected at ICSC.
• Mixed-use developments are still a hot topic, but execution remains challenging.
• Predictions for the future should consider longer timelines for significant changes.

Chapters

• 00:00 Introduction to Retail and Real Estate Predictions
• 04:58 Reflections on ICSC Predictions
• 09:52 Supply and Demand Dynamics in Retail
• 15:08 Experiential vs. Convenience Retail
• 19:54 The State of Omnichannel Retailing
• 25:00 Sustainability and ESG Initiatives
• 29:56 Repurposing and Mixed-Use Developments
• 33:47 Food and Beverage Trends

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