Retail’s Death? Greatly Exaggerated
Even with the disappointing recent results of many fashion retailers, retail sales are actually growing. RKF vice chairman Rob Cohen (right, with chairman and CEO Robert Futterman and Tristar Capital’s David Edelstein) says that we can’t quantify the size of e-com; the revenue is not taxable and actual earnings are blurry. And speaking of concrete, Rob says that brick-and-mortar stores still serve a vital purpose. Retailers simply can’t be all online or all brick-and-mortar anymore—a mix of both is the formula for success. Rob was one of the founding partners of RKF when the company was formed in 1998 in New York. Now, considered the largest independent retail-leasing firm in the US, RKF has eight offices and over 90 brokers, plus in-house marketing, graphics and research. The LA office is currently at 25 listings and closes about 120 deals a year, from Santa Barbara to San Diego with just 11 brokers. Rob adds that the Millennial rush to downtown LA has sparked the biggest of the national urban renewal projects, which is giving a boost to the overall economy, including construction jobs and restaurants, and, of course, retail. For more information on our Bisnow partner, click here.
