News
MOM/DAUGHTER DEALMAKERS; MANCINI DUFFY
June 23, 2009
| Goldblatt Associates’ mother-daughter duo Charlotte and Leslie Goldblatt know that in down times, we still need places for a bite to eat or a shot in the arm. They call it “requirement real estate," including supermarkets, drug stores, nursing homes, medical offices, and daycare. They know it so well, in fact, they trademarked it. |
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| We snapped Leslie and Charlotte at a Starbucks (for many of us, a requirement). Charlotte says she learned three valuable lessons from the early ‘90s recession: always prepare for down cycles because “what goes up must come down”; develop teams with diverse expertise while getting the best industry knowledge available; and, stay up to speed on current technology. |
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| During this economic (euphemism alert) hiccup, plan a strategy that will reap benefits two to three years from now, she says, noting that she learned the value of requirement real estate in ‘96, after selling Edward’s Supermarkets leaseholds. Currently, the Goldblatts are helping an independent supermarket that burned down in Waterbury, Conn. rebuild. They’ve worked with the city to reconfigure the site for more retail, in addition to the new 16k-SF store, and for its owner to receive a generous stimulus grant. It’s also identified sites in the Tri-State for a conventional supermarket chain. (They often work with Shoprite and helped broker the above location in Newburgh, NY.) |
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| Additionally, they’re representing a client seeking a site for a 185k-SF nursing home in NYC, have an RFP out for a 100-bed nursing home site near Tarrytown, and are leasing two Connecticut sites to a day care center. They’re also working with fast food restaurants—a huge growth area (and they don’t mean portion size). Also booming:pet stores and craft stores, as more people stay home. Charlotte and Leslie plan to pick up more ideas through ICSC and with their involvement in CCIM’s Greater New York chapter. (Brokers, note: Class A trophies don't appear on the “required real estate” list. And you don’t get to simply add it.) |
