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Events
Wednesday April 30th
Bisnow: NYC Retail Real Estate Summit
New York, NY

With the unforgiving polar vortex behind us, and consistent upticks in consumer demand dispelling market anxieties stemming from the Fed’s tapering policies, there is only one direction retail is heading. Up! The consumer is back, and retail is king. Come hear about it from the industry leaders themselves at Bisnow’s 4th Annual NY Retail Summit.

Get 20% off by using this discount code at checkout: retailmls2014

Click here to register!

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May 18-20, 2014
ICSC RECon Las Vegas
Las Vegas Convention Center

RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 34,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just three days! If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend educational sessions or find the next deal, then you need to attend RECon.

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Wednesday June 11th
ICSC: New York Program and Networking Breakfast
New York, NY

Join us and gain valuable insight into the dynamic retail environment in the outer boroughs of New York City.

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Thursday July 17th, 3-9pm
Social Retail Summit #7
Dumbo Spot, New York

Social retail is the new approach to customer relations developed by next generation omnichannel retail brands, from online community to offline sales.

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Featured Article
Press Release: Cohen Real Estate Announces It Has Been Retained To Market Prime Georgia Strip Shopping Center, Shoppes of Silverwood
Cohen-Real-Estate

NEW YORK, June 25, 2014 – Cohen Real Estate, a Manhattan-based full-service brokerage firm specializing in retail properties throughout the United States, today announced it has been retained to exclusively market Shoppes of Silverwood, a full-service strip shopping center located in an optimal, high-traffic location with a strong base of tenants.

The 65,571 square-foot shopping center, located in Ricon, Georgia, is 100% occupied, anchored by Kroger supermarket and bolstered by several other national and regional credit tenants. Kroger has seen a significant and steady increase in sales over the last few years, adding more value to this asset. Other tenants include Cato’s, Hong Kong Buffet, Pizza Hut, Jackson Hewitt Tax Service, and First Chatham Bank. Although the property is completely occupied, the new owner has the ability to add a 3,150 square-foot end-cap store.

Providing excellent visibility and easy access, Shoppes of Silverwood is located just 30 minutes north of Savannah, Georgia. Situated on 5652-5667 US Highway 21 South with a signalized intersection, this prime location achieves traffic counts of approximately 17,780 cars per day.

Posted on June 26, 2014

Featured Article
Press Relese: NYC’s Hot Shopping Corridors See Spring Spikes for Retail Rents
REBNY

NEW YORK, NY – May 12, 2014 – Strong consumer demand and a tourism boom in New York City led to rising retail rents along Manhattan’s most coveted shopping corridors this spring, according toThe Real Estate Board of New York’s (REBNY’s) Spring Retail Report. Fifth Avenue between 49th and 59th streets had the highest average ground floor asking rent among all primary shopping corridors citywide and set a new record at $3,550 per square foot, with rents increasing 16 percent compared to last year. The Times Square retail corridor also reached a new high with average ground floor asking rents climbing 11 percent over last year to $2,407 per square foot.

Other primary shopping corridors with significant ground floor asking rent increases this spring include:

Madison Avenue between 57th and 72nd streets where asking rents surged 24 percent to $1,643 per square foot after a period of store repositioning in that corridor.
Herald Square along West 34th Street, where rents increased 22 percent from last year to $883 per square foot.
Broadway in SoHo between Houston and Broome with average asking rents increasing 19 percent to $890 per square foot.

Posted on May 12, 2014

Featured Article
Guest Blogger Michael Stoler: Nordstrom Growing Their Presence in the Market
Michael Stoler

Over the past few years discount shoppers lost the opportunity to shop at Daffy ‘s, Syms, Loehmann’s and Filene’s to name a few. Nevertheless, bargain shoppers are still having the opportunity to claim a discount at other national retailers who are invading the Big Apple and the region.

Five years ago this month, Nordstrom Rack entered the New York City market with the opening at 60 East 14th Street in Union Square. On May 1st, the Rack entered the Brooklyn market with the opening of its store in the Offerman Building at 505 Fulton Street in the thriving Downtown Brooklyn. The company will be continuing its expansion in the fall when the off price retail division of Nordstrom will open its second location in Brooklyn at the Related Cos. Gateway Center near Spring Creek Park. Also in the fall, the Rack will open its first Queens location at the Shops at SkyView Center located in Flushing.
Last year, the Rack moved into a two floor, 32,000 square foot former location of Filene’s Basement in Manhasset, Long Island. The company also opened two other Long Island locations last year at the Huntington Shopping Center and at the Gallery at Westbury Plaza in addition to relocating a store in White Plains.

Posted on May 12, 2014

Featured Article
Press Release: Rare Prime Retail Space Opens Up In Hell’s Kitchen at 695 9th Avenue & West 47th Street
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NEW YORK, NY – May 2, 2014 – Eastern Consolidated has been retained as the exclusive leasing agent for 695 Ninth Avenue, a 2,800-square-foot retail store front located at the corner of West 48th Street in Hell’s Kitchen.

The space is comprised of 2,000 square feet on the ground floor and 800 square feet on the lower level. It also features 25 feet of sidewalk frontage on a Prime Corner of Ninth Avenue & West 48th Street and is available for immediate possession.

“As the only store-front vacancy along this corridor that is known for its culinary diversity, we expect this prime corner retail offering to be snatched up quickly,” said James Famularo, Senior Director of the Retail Leasing Division forEastern Consolidated, who exclusively represents the property along with Associate Director Jeff Geoghegan. “Hell’s Kitchen receives a heavy and continuous flow of foot traffic, which makes this rare opportunity attractive to restaurateurs and retailers alike.”

Posted on May 2, 2014

Featured Article
Press Release: Cohen Real Estate Announces $5.8 Million Sale of River Bay Plaza in Riverview, Florida
Cohen Real Estate

NEW YORK, April 22, 2014 – Cohen Real Estate (Cohen), a Manhattan-based full-service brokerage firm focused on retail properties throughout the United States, today announced the $5.8 million sale of River Bay Plaza in Riverview, Florida. The sale closed on April 11th.

Located outside Tampa and south of Brandon, Florida in Hillsborough County, the 79,288 square-foot neighborhood shopping center is anchored by Winn Dixie, which recently exercised a lease option. Sales have increased annually since Bi-Lo’s acquisition of the chain. Further draws to the center include Aaron’s signing a new ten year lease and Dollar Tree taking an option.

River Bay Plaza is on the corner of “Main and Main.” The center fronts both US Hwy 301 and Boyette Road, a major thoroughfare with high traffic counts.

Posted on April 28, 2014

Featured Article
Press Release: SL Green Expands Retail Footprint – Announces Aggreements to Acquire 2 Prime SoHo Retail Locations
SL-Green

New York, NY – April 23,, 2014 – SL Green Realty Corp. (NYSE: SLG) today announced two separate agreements to acquire prime retail condominiums located along two of SoHo’s most popular shopping corridors.

The company entered into contract to acquire the 7,200 square foot retail condominium at 121 Greene Street in Lower Manhattan. The asset is located adjacent to Ralph Lauren’s SoHo store and directly across the street from Apple’s local flagship. It is fully occupied by two retailers, both at below market rents: the boutique eyewear house, Warby Parker, and the New York based luxury womenswear and accessories designer, Proenza Schouler.

The company also announced it has entered into an agreement to acquire a 5,218 square foot retail condominium at 115 Spring Street, between Mercer and Greene streets. The grade-level and basement space, leased at below-market rents through January 2017, is occupied by Opera Gallery.

The acquisitions will add to SL Green’s expanding prime retail property portfolio, which features substantial investment interests along several of New York City’s most heavily trafficked retail corridors. The Company’s SoHo presence already includes retail assets at 131-137 Spring Street and a participating preferred investment at 530-536 Broadway.

Posted on April 23, 2014

Featured Article
Guest Blogger Michael Stoler: New York City Lacks the World’s Most Valuable Retail Brand
wmt_logo_2

New York City is the home of thousands of retailers from around the world. One retail chain which has more than 10,000 retail units in 27 countries, employing 2.2 million around the world and 1.3 million in the U.S. has been unable to open a retail location in the Big Apple. This retailer from its humble beginnings as a small discount retailer in Rogers, Arkansas is the most valuable retail brand in North America, with a brand value estimated at $131,8 billion, according to Interbrand’s, “Best Retail Brands” report is Walmart. This retail powerhouse retains an enormous margin over its closest competitor Target (who has invaded every one of the five boroughs) whose brand is put at $27.1 billion, an 8% increase over 2013. Rounding out the top five most valuable North American brands are the Home Depot ($25 billion), Amazon ($23 billion) and CVS/pharmacy (nearing $18 billion).

Posted on April 21, 2014

Featured Article
Press Release: SoulCycle to Open in FiDi at TF Cornerstone’s 2 Gold Street
soulcycle.logo

NEW YORK, NY – April 16, 2014 – SoulCycle has signed a 5,000-square-foot lease to open a new studio at TF Cornerstone’s 2 Gold Street. This will be the indoor cycling studio’s 10th location in New York City and its first in the Financial District.

SoulCycle – known for its forty-five minute, full body, indoor cycling workout, set to inspiring music and led by motivational instructors – will open at 2 Gold Street in the fall of 2014.

Posted on April 16, 2014

Featured Listing
Featured Article
Top 10 Franchises of 2014 and Beyond
Screen Shot 2014-04-10 at 5.09.18 PM

Originally seen in American Business Credit.

A growing number of people are once again realizing that investing in a franchise is a good business and financial decision. However, with so many opportunities to compare and choose from, it can be a challenge to determine where to start.

Some franchises are better than others based on a variety of factors, including but not limited to:

Franchisor support
Brand recognition
Company stability
Number of years in business
Number of locations
Investment required
Rather than search through thousands of franchise opportunities, consider investing in one of the following 10. These are among the best of the best for 2014 and beyond.

Posted on April 10, 2014

Featured Article
RetailMLS Featured on The Fundrise Blog: Real Estate Expert Q&A: Ben Zises of RetailMLS
fundrise

Interview originally seen on The Fundrise Blog.

We interviewed RetailMLS founder Ben Zises on what he’s learned while starting his real estate career and why he thinks the new federal legislation around crowdfunding and fundraising will be a “game changer” for real estate.

Ben Zises: Founder & CEO, RetailMLS

Where did the idea for RetailMLS come from?

The idea for RetailMLS came to me in July 2009. I had just completed my certificate in real estate finance and investment from NYU’s real estate program and it was my first week on the job as a retail leasing broker in Manhattan. I was working at a boutique retail brokerage company, Mogull Realty. My boss handed me a stack of flyers for an empty retail space on the corner of 44th and Third Avenue that we’d been hired to lease. I was told to find a retail tenant for this storefront.

I thought to myself, “this will be easy, I’ll go online and advertise this vacancy on the (must be) retail multiple listing service that every tenant or tenant rep broker would be searching on if they were looking for a retail location in NYC.” After spending the afternoon searching for such a site, I realized it simply did not exist. Thus the seed was planted.

Posted on April 9, 2014

Featured Article
Press Release: Eastern Consolidated Exclusively Markets Prime 7th Avenue Retail Space for Lease
RetailMLS - Eastern Consolidated

NEW YORK, NY – April 8, 2014 – Eastern Consolidated has been retained as the exclusive agent to lease prime retail space at 425-427 Seventh Avenue, a well-located, two-building parcel with 39 feet of frontage across from Penn Station and Madison Square Garden, and in close proximity to Macy’s.

The property provides 2,400 square feet of prime retail space on two levels, including a full basement. Ideally suited for a single user, the two-building space is also available to individual tenants in a highly visible, 24/7 neighborhood with tremendous foot traffic, and additional branding opportunities. Both spaces have kitchens, are fully vented, and can be delivered within 30 days.
“Retail tenants have the opportunity to lease prime space in one of the world’s busiest transportation, business, and retail districts,” said Alexander Hill, Senior Director with Eastern Consolidated, who along with Associate Director Annie Meyding represents the space on an exclusive basis. “Between Madison Square Garden, Penn Station, and Macy’s alone the foot traffic is incredible.”

Posted on April 8, 2014

Featured Article
Press Release: A Healthier Pita Grill Replaces Five Guys Burger and Fries in Greenwich Village at 496 Laguardia Place
Pita Grill

NEW YORK, April 1, 2014 – James Famularo, Senior Director of the retail leasing division at Eastern Consolidated, has arranged a 12-year lease for Pita Grill in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The quick service restaurant (QSR) will be the chain’s ninth location since it first opened a few blocks away at West 4th Street in 1994.

The 2,700-square-foot space is comprised of 1,350 square feet on the ground floor and 1,350 square feet on the lower level, which is complemented by 25 feet of frontage on LaGuardia Place.

“The demand for fast casual concepts in Greenwich Village continues to grow because of new developments, tourism and the ever increasing New York University presence,” said James Famularo, a Senior Director at Eastern Consolidated, who represented both landlord & tenant exclusively. “This area in Greenwich Village, right on the border of SoHo, receives a steady flow of foot traffic from NYU and is a popular lunch and nighttime destination.”

Posted on April 1, 2014

Featured Article
Press Release: Calling All Retail Real Estate Stars for REBNY’s Deal of the Year Awards
REBNY

NEW YORK, NY – April 1, 2014 – The Real Estate Board of New York (REBNY) is looking for the cream of the crop for this year’s coveted Retail Deal of the Year Awards, which annually recognizes the most creative and significant New York City retail deals. Submission forms are available on the REBNY website (rebny.com) and submissions are due Thursday, April 10, 2014 at 5:00 pm. The winners will be announced at the Retail Committee’s Deal of the Year Cocktail Party on Tuesday, June 10, 2014, at the 101 Club.

“Every year we are impressed by the level of creativity that REBNY members employ in negotiating deals to bring retail to neighborhoods that might be under-served or areas where these transactions just don’t seem possible,” said Peter Braus, Managing Principal for Lee & Associates NYC and chair of REBNY’s Retail Committee. “We look forward to honoring our winners in June and celebrating with all of our nominees for their contributions to New York City’s lively retail landscape.”

Posted on April 1, 2014

Featured Article
Cedar Realty Trust Acquires Quartermaster Plaza in Philadelphia for $92.3M
Quartermaster Plaza

Cedar Realty Trust announced that they closed on a 456,000 square foot grocery-anchored shopping center in Philadelphia, PA for $92.3m. The shopping center is 98% leased and anchored by BJs and Home Depot. See Press Release below.

PORT WASHINGTON, N.Y., March 24, 2014 — Cedar Realty Trust, Inc. (NYSE: CDR) announced today that it closed on the acquisition of Quartermaster Plaza in Philadelphia, Pennsylvania, a 456,000 square foot grocery-anchored shopping center. The shopping center is 98% occupied and anchored by a BJ’s Wholesale Club. The asset was acquired for $92.3 million, including the assumption of $53.4 million of fixed rate debt. The acquisition is expected to be funded with anticipated proceeds from asset sales. Pending such proceeds, the acquisition will be initially funded using the Company’s credit facility.

Posted on March 26, 2014

Featured Article
Press Release: REBNY Panel Talks Tough Competition and High Rents for NYC Restauranteurs
Rebny

NEW YORK, March 26, 2014 – The Real Estate Board of New York’s (REBNY) Commercial Crossfire Seminar on Tuesday, March 18th revealed that New York City’s restaurant market is tougher than ever, but the city remains the place to be for restaurateurs looking to establish credibility.

The panel, entitled, “The Art of Making a Restaurant Deal in NYC,” identified the latest trends in restaurant real estate and what it takes to stand out and succeed in the industry. Joanne Podell, Vice Chairman for Cushman & Wakefield, and Jeffrey D. Roseman, Executive V.P. for Newmark Grubb Knight Frank Retail, moderated the discussion. Panelists included: Mark Birnbaum of Catch, La Cenita, and Lexington Brass; John DeLucie of The Lion, Crown, and Bill’s Food & Drink;Stephen Starr of Buddakan, Morimoto, and Caffe Storico; Michael Weinstein of Bryant Park Grill, Clyde Frazier’s, and El Rio Grande; and Ed Hogan, National Director of Leasing for Brookfield Office Properties.

Stephen Starr made a big splash when he first came to New York city by opening up both Buddakan and Morimoto at the same time, although his projects that followed haven’t been as ambitious. “It’s a more daunting task to open up new places now because of the extremely high rents,” he said. “Young entrepreneurs with brilliant ideas are going to have a hard time in this market and it’s a shame – only the strong will survive.”

Posted on March 26, 2014

Featured Article
Press Release: Jeffrey R Anderson Real Estate Announces Michigan Outlet Center Project
Jeffrey R Anderson

CINCINNATI (March 26, 2014): Award winning commercial real estate developer Jeffrey R Anderson Real Estate, along with commercial real estate development and leasing firm Center Management, announce today the development of the Outlets of Southeast Michigan, a 330,000 square foot outlet center located on the well-travelled intersection of Interstate 94 and Hall Road (M-59) in the township of Chesterfield, Michigan. Ideally situated between top U.S./Canada entry points, the project is expected to open in the spring of 2016 and house more than 80 leading designer and brand name stores.

“We’re poised to deliver a state-of-the-art outlet shopping destination that will not only attract the 4.5 million residents living within 60 minutes from the site, but capture the steady influx of the more than 16 million Canadian consumers crossing into the U.S. annually,” said Jeffrey R Anderson Real Estate Vice President of Leasing Mark Fallon.

Posted on March 26, 2014

Featured Article
Guest Blogger Brendon Gotch: A Quiet Revolution on Broadway in NoHo
Brendon Gotch

With all the uproar over the continuously developing retail markets surrounding it, the quiet transformation of Broadway in NoHo has gone all but unnoticed. In SoHo, rents can now top $1,000 per square foot for the most valuable space, while in Union Square, H&M has signed a lease for nearly 40,000 square feet. Even other parts of NoHo have drawn their share of attention with the arrival of high fashion tenants like John Varvatos and Intermix on the Bowery. In spite of the fervor over all of the areas encircling it, the buzz has largely missed the changes on Broadway.

Ten years ago, before the Adidas building rose on the corner of Broadway and Houston Street, the stretch between Houston and 14th Street was largely home to discount apparel and shoe stores as well as long-standing antiques stores. Since then, and at an accelerating pace in the last few years, Broadway has had an influx of fashion and other credit retailers offering landlords reduced tenancy risk and increased rents.

Posted on March 26, 2014

Featured Article
Guest Blogger Michael Stoler: More Barbeque Restaurants Opening in New York City
M. Stoler

New York City is the home of thousands of restaurants with hundreds of themes and cuisines. As the Village Voice reported “it’s no secret that this city is in the throes of another barbecue renaissance, with many new locations opening throughout the five boroughs and New Jersey.

Last year, the Village Voice listed its ten best barbecue restaurants in New York City which included:

Posted on March 24, 2014

Featured Article
Press Release: New Women and Children’s Boutique, mimi&mo, to Open at TF Cornerstone’s 4545 Center Boulevard
Mimi&mo

New York, NY: March 18, 2014 – A new women and children’s boutique, mimi&mo, has signed a long-term, 1,239-square-foot lease on the ground floor of TF Cornerstone’s 4545 Center Boulevard, Long Island City’s largest luxury rental building that leased up in February. The chic retail store, designed by award-winning architecture and design firm Slade Architecture, will open on the waterfront thoroughfare in early April and has plans to launch an e-commerce website.

mimi&mo’s collections include the latest in fashion as well as non-traditional items for women and children under the age of six. The store will carry popular specialty brands such as: Equipment, Smythe, Current Elliott, Frye and Small Frye, Happy Socks, Nununu, and Mini Rodini, among others.

“Our boutique will reflect the unique culture and fun spirit of the neighborhood with products that have been hand-selected for the stylish women and children of Long Island City,” said Founder and Owner of mimi&mo, Miriam Zeldovich, who is also an LIC resident and the Vice President of Planning for the United Legwear Company. “We look forward to serving the community and becoming a specialty destination for residents and visitors alike.”

Posted on March 19, 2014

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