News
RETAIL REUNION
October 27, 2011
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| Earlier this week at CBRE's first-ever quarterly retail presentation, we snapped CBRE Tri-state prez Matt Van Buren, national retail headAnthony Buono, Annette Healey, Eastern division prez Jim Reid, and Kyle Schoppmann. Matt says the five banks that have announced big layoffs are first, sixth, 11th, 12th, and 13th by size of Manhattan footprints. In other words, the ones that are downsizingdon't have a ton of space in NYC, indicating that they're European. |
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| Tri-state retail head Nina Kampler (here with colleagues Andrew Goldberg, Jedd Nero and Gerry Prager) also heads CBRE's national urban retail group, formed three years ago to create synergy among the US's world-class retail corridors like Manhattan's Fifth Avenue, Chicago's Magnificent Mile, and LA's Beverly Hills. Andrew says demand on Fifth is so strong that replacement tenants are taking way more space than their predecessors (like the just-openedUniqlo, which took 100k SF where Brooks Brothers had 33k, andHollister, which has 16k SF where Hickey Freeman occupied 4,000). Signs that the Meatpacking District is also becoming a global retail destination, says Susan Kurland: the proliferation of multiplelanguages heard on the street. Another boon for the submarket: There's room for that area to expand west. |
