Adam Ifshin is the founder and CEO of DLC, one of the nation’s premier owners and operators of retail real estate. Known as a thought leader in the industry, Adam mentors emerging entrepreneurs through a business plan program at Williams College.

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Guest Resource

DLC Management – Creating value in open-air retail.

A Breath of Open-Air – Your ticket to unlocking the opportunity of open-air retail.

3 Value Bombs

1) Luck is crucial to success.

2) Retail real estate encompasses various physical locations where retailers interact with customers and make sales.

3) As a successful real estate entrepreneur, being a “people-first” leader is the key to your achievements. Building and nurturing a solid team is essential for increasing the chances of success, regardless of the business, industry, or vision.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How Remote Work Has Changed Shopping Habits and Expectations of Local Retail with Adam Ifshin

[1:25] – Adam shares something he believes about becoming successful that most people disagree with.

He believes that luck is crucial to success, especially in entrepreneurship. Recognizing the role of chance in entrepreneurial success is essential for cultivating the humility needed to become a great leader.

[3:19] – What is retail real estate?

Retail real estate encompasses various physical locations where retailers interact with customers and make sales.
This includes flagship stores like Tiffany’s on 57th and Fifth Avenue, classic department stores in malls, open-air shopping centers, standalone drive-thru’s like Starbucks, and neighborhood pharmacies like Walgreens or CVS.
In the United States alone, nearly 10% of the population works in retail real estate daily, contributing to almost 30% of the country’s GDP.

[5:15] – Adam shares his DLC founding story.

He always wanted to be an entrepreneur and started his first business in college at the age of 19.
After trying various ventures, he founded DLC, focusing on creating durable cash flows and unlocking value in real estate.
DLC ended up exclusively dealing with retail real estate due to the circumstances during the savings and loan crisis in 1991 when financing was scarce.
He worked hard, relied on some luck, and raised capital to buy distressed shopping centers in the Northeast.

[7:59] – Adam talks about the transformation atom of neighborhood shopping.

As a trained economist and economic demographer, he firmly believes in Joseph Schumpeter’s “creative destruction” concept in capitalism.
It means businesses have a lifecycle, and markets undergo disruptive changes — cyclical, structural, and systemic. For instance, when he started his company in 1991, Sears Roebuck was a dominant retailer, but now it’s gone, and Walmart emerged as a significant player.
Every industry faces transformative moments, like Amazon’s impact.
Successful entrepreneurs adapt to these changes with resilience, agility, and a mix of offense and defense strategies.

[11:21] – A timeout to thank our sponsors!

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[15:11] – Adam talks about how has the rise of remote work has impacted consumers’ shopping habits and the expectations of local retail.

Significant changes are happening, and as with any major and unexpected disruption, there are winners and losers.
This shift dramatically impacts how people – especially retailers – interact with customers.
Adam shares a story from several years ago while snowshoeing with a well-known real estate investor and CEO
With remote work on the rise and low unemployment, employees have more control, leading to changes in consumer habits.
This shift is driven by a desire to avoid long commutes and find a better work-life balance for parents.

[19:15] – What is open-air retail, and why is it the hottest investment in commercial real estate right now?

Open-air retail encompasses a wide range of shopping centers, from large ones with major retailers like Walmart and Target to smaller, convenience-oriented places with local grocers and tenants like Starbucks and Chipotle.
These locations are the backbone of household shopping, offering essentials like clothing, food, and cleaning supplies.
These stores act as the “Swiss Army knife” of retail, providing convenience and speed to consumers.
They are highly versatile for retailers, cost-effective for customer acquisition, and vital in omni-channel e-commerce

[22:59] – Adam’s takeaway.

As a successful real estate entrepreneur, being a “people-first” leader is the key to your achievements.
Building and nurturing a solid team is essential for increasing the chances of success, regardless of the business, industry, or vision.
DLC Management – Creating value in open-air retail.

[25:20] – Thank you to our Sponsors!

HubSpot: There’s a better way to win, and it all starts with the new HubSpot Sales Hub. It’s smart software for smart sales teams that feels good to use! Try it for yourself at HubSpot.com/sales!
Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

How Remote Work has Changed Shopping Habits and Expectations of Local Retail with Adam Ifshin

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