Keynote Recap: Fireside Chat with Rick Caruso

During the CCIM Excellence Awards, Rick Caruso, Founder and Executive Chairman of Caruso, joined 2026 Global President Adam Palmer, CCIM, SIOR, for a fireside chat exploring the strategies, experiences, and perspectives that have shaped his career. Against the backdrop of an evening recognizing outstanding achievements, including our 2026 Dealmaker nominees, Caruso offered valuable insights into what it takes to create lasting impact in commercial real estate. 

Rick Caruso is a prominent Los Angeles real estate developer, civic leader, and Founder and Executive Chairman of Caruso, the company behind landmark destinations including The Grove and Rosewood Miramar Beach. His career spans decades of private-sector development and public service, including leadership roles with the Los Angeles Department of Water and Power and the Los Angeles Police Commission. Following the devastating 2025 Los Angeles wildfires, Caruso founded Steadfast LA, a nonprofit focused on accelerating recovery and rebuilding through public-private partnerships. His work reflects a longstanding commitment to strengthening communities through thoughtful development, collaboration, and civic leadership. 

Creating Places, Not Just Properties 

Throughout the discussion, Caruso emphasized a philosophy that has guided his approach to development: creating places where people want to gather, connect, and spend time. 

Drawing on projects including The Grove and Rosewood Miramar Beach, he explained how thoughtful design, tenant selection, and attention to detail can transform traditional properties into destinations. 

"We're in the business of enriching lives," Caruso shared, emphasizing that successful development goes beyond the physical property to consider the experiences it creates. 

His perspective reinforced a central theme of the evening: exceptional commercial real estate professionals recognize opportunities that extend beyond individual transactions. 

Recognizing Opportunity and Embracing the Future 

Caruso also discussed the importance of location, community investment, and identifying potential in underperforming properties. From revitalizing retail centers to addressing challenges facing Downtown Los Angeles, he emphasized that long-term success requires understanding both the property and the surrounding community. 

Looking ahead, Caruso expressed enthusiasm for artificial intelligence and its growing role in commercial real estate, sharing how his company is already applying AI across design, operations, finance, and guest experiences. 

Leadership and integrity were equally important themes, with Caruso highlighting the value of surrounding yourself with passionate professionals willing to challenge conventional thinking. 

Insights Beyond the Stage 

The evening concluded with an attendee Q&A covering AI applications, future development opportunities, public service, and rebuilding efforts following the Los Angeles wildfires. Caruso also shared plans for his company's first mixed-use development outside California, with a project planned in Texas. 

As The CCIM Institute recognized the accomplishments of its members and Dealmakers, Caruso's insights offered a fitting perspective on the creativity, commitment, and vision behind exceptional work in commercial real estate. 

Conversations with industry leaders like Caruso remain a defining part of CCIM Forums, connecting professionals with influential voices, new perspectives, and ideas they can carry into their own markets and careers.