News
RETAIL SUMMIT PART DEUX
April 4, 2011
| Proof that retailers want to be in New York: nearly 400 attendeesjoined us for last week's Bisnow NY Retail Summit to learn where the sizzling market’s headed from some of the top names in the industry. Thursday, we brought you the event; today we bring you the audience. |
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| Among the attendees: CBRE’s Gary Trock, Breslin Realty’s Russel Helbling, Robert K Futterman & Associates’ David Abrams, and CBRE’s Anthony Buono. Gary says it was great to see the tremendous turnout. It shows the retail world is active again: “Lots ofgood vibes in the room with both brokers and owners.” We wonder what Anthony was thinking with that light bulb over his head. |
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| Various REIT M&A activity is keeping Shearman & Sterling’sMalcolm Montgomery (second from right, with Madison Marquette’sTyson Pitzer, Bohler Engineering’s Kevin Haney, and Madison Marquette’s Anselm Fusco) on his toes because his firm has the money and wherewithal to spend it, he says. Meanwhile, private companies are still cleaning up their balance sheets. |
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| Cole Schotz’s Joe Koshar, Whitestone Associates’ Paul Rotondi, and Bohler Engineering’s Stephen Tomicki all joined us from New Jersey where Stephen reports that developers are out kicking tiresand revisiting older projects differently (eg. instead of having one anchor tenant, splitting a project for two anchor tenants). It’s certainly keeping the architects, engineers, and lawyers busy, he says. Despite the downturn, Bohler was able to open its 13th officein Florida. |
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| Stewart Title’s Gabriella Albano, with Rizzo Group’s Chara Tappinand Israel Berger & Associates' Michael Duckfield, says the title industry is picking up, especially as foreign investors increase activity into the US. She’s seeing particular interest from Canada,Europe, and Egypt. |
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| Ripco’s Brad Cohen, National Realty & Development Co’s Dovid Spector, Welco Realty’s Jason Gerbsman, CBRE’s Stephen Sjurset, Jimmy Jazz’s Jason Richter, Ripco’s Jason Pennington, and Amerifund’s Laurie Shapiro. Jimmy Jazz has 10 deals for its namesake and Decibel brands in the hopper in regional malls, Jason Richter reports. The closest is a Jimmy Jazz at White Plains’ The Galleria this month, while others are opening at Chicago’s Ridge Shopping Mall and Golden East Crossing in Rocky Mount, NC. Overall, the brand has 200 stores in 20 states, while we have three Jasons in one photo. |
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| 1095 Avenue or the Americas offers 36k SF of space on the first and second floors. In addition to expansive views of Bryant Park, the Cushman & Wakefield-marketed space will also benefit from a 75k SF multi-story building with retail space being developed at 120 West 42nd St between Avenue of the Americas and Broadway, and a public plaza connecting the buildings. |
