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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
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

Featured Article
Kyle Davis
Kyle Davis

As an analyst at Stan Johnson Company, Kyle Davis is responsible for client information management, marketing and transaction support. Davis also provides market research. Before joining Stan Johnson Company Davis worked in university admissions and as sale associate at CBRE. Davis is licensed as a Sales Associate by the Oklahoma Real Estate Commission.

Posted on March 12, 2014

Featured Article
Guest Blogger Michael Stoler: Grocery Markets Expanding in the Region
Michael Stoler

With more and more people residing and working in Lower Manhattan, one of the most important retail segments to serve this community is the need for grocery stores and markets. The latest grocer to enter the Tribeca market is Gourmet Garage, opening a store at 366 Broadway, which is the northeast corner of Franklin.
As reported in the Tribeca Citizen, the new store will have approximately 13,000 square feet with half of that on the ground floor and 1,000 square feet in a mezzanine with seating. The market is scheduled to open at the end of the year.

A few months before the opening of Gourmet Garage, sixth store in Manhattan, Tribeca will welcome its Fairway Tribeca Store. This store on two stories at 255 Greenwich Street at Murray Street will open in the fall. It will be the first Fairway located in Lower Manhattan and the 16th Fairway store. The store is located a block away from Amish Market, at 53 Park Place, between West Broadway and Church Street, another upscale new food chain.

Posted on March 10, 2014

Featured Article
Press Release: RKF Arranges Flatiron Lease for Fast-Growing Yoga Studio
Mind-Body Studio

New York, NY March 7, 2014 – RKF has arranged a 3,027-square-foot lease at 19 West 21st Street for the exhale Mind-Body Studio. The ground floor space will house exhale Mind-Body Studio’s 7th Manhattan location when it opens for business in May. The building at 19 West 21st Street is located between Fifth and Sixth Avenues in the Flatiron District.

RKF Managing Director Edmond Ezra and Associate Ernie Getz represented exhale Mind-Body Studio in the transaction, which involved a sublease from Oberman and a lease extension from the landlord, Fifth Partners, LLC. Oberman was represented by Christopher Owles and Max Talapar of Sinvin Realty.

“The Flatiron District has truly evolved into a neighborhood that’s sophisticated, youthful, and athletic,” said Mr. Ezra. “Other fitness-based and sportswear retailers have done extremely well here, operating alongside Whole Foods and the greenmarket at Union Square, which are turning this entire area into a wellness district in its own right.”

Posted on March 7, 2014

Featured Article
Press Release: Cohen Real Estate Announces $20.25 Million Sale of Retail Condo at 2770 Broadway
Cohen Real Estate

NEW YORK, MARCH 4, 2014 – Cohen Real Estate (Cohen), a Manhattan-based full service brokerage firm focused on retail properties throughout the U.S., has arranged the off-market sale of the retail condominium at 2770 Broadway for $20.25 million. The space, which sits at the base of the 20-story luxury Opus Condominiums, is located on the highly desirable and vibrant corner of 107thStreet and Broadway on Manhattan’s Upper West Side. The transaction encompasses 9,500 square feet of retail space on the ground floor and basement levels, and is currently occupied by two prime tenants, Bank of America and Lens Crafters.

Ric Kaiser, Senior Executive Director at Cohen, represented both the buyer – David I. Berley, Chairman of the venerable real estate firm Walter & Samuels – and the seller, Charles Ackerman, Founder and Chairman of Ackerman and Co., a widely respected commercial real estate firm based in Atlanta since its 1967 inception.

Posted on March 5, 2014

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