Content about Leasing

September 11, 2014

David Reiner has joined retail real estate services firm Levin Management as VP of leasing. Most recently, Reiner served as director of real estate for Body Central Stores Inc.

North Plainfield, N.J. — David Reiner has joined retail real estate services firm Levin Management as VP of leasing. Most recently, Reiner served as director of real estate for Body Central Stores Inc.

During the past 25 years, he has also has held executive- and management-level retail leasing positions with property owners such as Urban Retail Properties, Colonial Properties Trust, and Simon Property Group.
 

September 11, 2014

RKF has been selected as the exclusive retail leasing agent for The Factory, a one-million-square-foot, multi-tenant commercial building located in Long Island City, Queens. Situated in the Hunter’s Point section of Long Island City, the retail space at The Factory consists of 23,564-sq.-ft. on the ground floor and 21,854-sq.-ft. on the building’s lower level.

New York — RKF has been selected as the exclusive retail leasing agent for The Factory, a one-million-square-foot, multi-tenant commercial building located in Long Island City, Queens. Situated in the Hunter’s Point section of Long Island City, the retail space at The Factory consists of 23,564-sq.-ft. on the ground floor and 21,854-sq.-ft. on the building’s lower level.

RKF executive VP Barry Fishbach and director Young Kim are bringing the opportunity to market for Atlas Capital Group, who recently acquired the property.

September 11, 2014

Vestar, a privately-held real estate company in the western U.S. that acquires and manages retail and entertainment destinations, has named Jenny Cushing as assistant VP of leasing. Cushing will be responsible for overseeing and growing the leasing efforts throughout Vestar’s California, Arizona & Nevada projects.

Phoenix — Vestar, a privately-held real estate company in the western U.S. that acquires and manages retail and entertainment destinations, has named Jenny Cushing as assistant VP of leasing. Cushing will be responsible for overseeing and growing the leasing efforts throughout Vestar’s California, Arizona & Nevada projects.

September 4, 2014

Stein Mart is set to join the tenant mix at Mayfair Shopping Center in Commack, New York, leasing 30,800 sq. ft., according to Levin Management, exclusive leasing and managing agent for the property.

Commack, N.Y. -- Stein Mart is set to join the tenant mix at Mayfair Shopping Center in Commack, New York, leasing 30,800 sq. ft., according to Levin Management, exclusive leasing and managing agent for the property. 

Stein Mart is moving into the space formerly occupied by MJM Designer Shoes, which is relocating to a new 12,000-sq.-ft. space within the 221,000-sq.-ft. shopping center.

August 28, 2014

Mid-America Asset Management recently secured new retail leases on behalf of two shopping centers in Chicago’s northwest suburbs. DSW Shoe Warehouse signed a lease for 23,773 sq. ft. at Village Square of Northbrook located at the southeast corner of Lake Cook Road and Skokie Boulevard in Northbrook, Ill.

Chicago -- Mid-America Asset Management recently secured new retail leases on behalf of two shopping centers in Chicago’s northwest suburbs. DSW Shoe Warehouse signed a lease for 23,773 sq. ft. at Village Square of Northbrook located at the southeast corner of Lake Cook Road and Skokie Boulevard in Northbrook, Ill. The 334,995-sq.-ft. center is anchored by Nordstrom Rack, Marshall’s, The Container Store, PetSmart, Cost Plus World Market, and Saks Fifth Avenue Off 5th. DSW, expected to open in spring 2015, is taking the space vacated by Loehmann’s.

August 21, 2014

RMC Property Group announced that Nicholas Roth has joined the company as VP leasing.

Tampa, Fla. -- RMC Property Group announced that Nicholas Roth has joined the company as VP leasing.  

Roth joins RMC from Sandor in Indianapolis, where he was its U.S director of leasing. Roth also worked previously in landlord representation as director of leasing/Florida with Edens & Avant and as senior VP leasing/Florida with Equity One.

August 18, 2014

Cushman & Wakefield’s retail team in New Jersey has taken on three new leasing assignments, with projects spanning the Northern New Jersey market, in Morris, Essex and Hudson counties.

East Rutherford, N.J. -- Cushman & Wakefield’s retail team in New Jersey has taken on three new leasing assignments, with projects spanning the Northern New Jersey market, in Morris, Essex and Hudson counties.

August 1, 2014

Dental practice Brighter Dental Care has leased 2,600 sq. ft. of the second floor at The Hills Village Center in Bedminster, New Jersey, according to Levin Management, exclusive leasing and managing agent for the 110,800-sq.-ft. center.

Bedminster, N.J. -- Dental practice Brighter Dental Care has leased 2,600 sq. ft. of the second floor at The Hills Village Center in Bedminster, New Jersey, according to Levin Management, exclusive leasing and managing agent for the 110,800-sq.-ft. center.

July 28, 2014

David E. Pratt has joined Trademark Property Co. as VP mall and lifestyle leasing.

Fort Worth, Texas - David E. Pratt has joined Trademark Property Co. as VP mall and lifestyle leasing. Pratt brings 27 years of retail leasing experience to Trademark, where he will be responsible for leasing of the company’s lifestyle centers and malls.

July 22, 2014

Staples has leased a 14,000 sq. ft. space at North Village Shopping Center in North Brunswick, N.J. Levin Management, exclusive leasing and managing agent for the 132,000-sq.-ft. center, negotiated the lease.

North Brunswick, N.J. - Staples has leased a 14,000 sq. ft. space at North Village Shopping Center in North Brunswick, N.J. Levin Management, exclusive leasing and managing agent for the 132,000-sq.-ft. center, negotiated the lease.

July 17, 2014

Cullinan Properties, Ltd. has promoted Scott Bishop to VP of Asset Management, responsible for overseeing all aspects of property operations for the company, including supervision of both in-house personnel and third-party firms.

Peoria, Ill. -- Cullinan Properties, Ltd. has promoted Scott Bishop to VP of Asset Management, responsible for overseeing all aspects of property operations for the company, including supervision of both in-house personnel and third-party firms. Bishop will also coordinate leasing, marketing and tenant construction-related activities for the managed properties.

July 16, 2014

Empire State Realty Trust, Inc. (ESRT), a New York-based real estate investment trust, has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units.

New York - Empire State Realty Trust, Inc. (ESRT), a New York-based real estate investment trust, has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units. 112 West 34th Street is a 26-story, 650,769-rentable-sq.-ft.office tower, with 92,455-sq.-ft. of retail space located in the 34th Street/Penn Station submarket.

July 9, 2014

Two long-term lease agreements totaling 6,600 sq. ft. bring retail occupancy to 100% at Bayshore Plaza in Barnegat, New Jersey, according to the 59,000-sq.-ft. property’s leasing and managing firm Levin Management.

Barnegat, N.J. — Two long-term lease agreements totaling 6,600 sq. ft. bring retail occupancy to 100% at Bayshore Plaza in Barnegat, New Jersey, according to the 59,000-sq.-ft. property’s leasing and managing firm Levin Management. 

The new tenants include casual Italian restaurant Luigi’s Ristorante and Brick Oven Pizza (2,400 sq. ft.) and non-profit green initiative Greensleeves Boutique (4,200 sq. ft.).

July 2, 2014

Mid-America Asset Management Inc. has announced three new retail leases on behalf of two shopping centers in Chicago’s southwest suburbs.

Oakbrook Terrace, Ill. -- Mid-America Asset Management Inc. has announced three new retail leases on behalf of two shopping centers in Chicago’s southwest suburbs.     

Flexeon Rehabilitation signed a lease for 2,923 sq. ft. at Hillcrest Shopping Center in Crest Hill, Illinois. The 240,268-sq.-ft. center is anchored by TJ Maxx, Food 4 Less, Citi Trends, and Harbor Freight Tools.

July 2, 2014

Winick Realty Group has completed retail leasing for TF Cornerstone’s East Coast Development, a mixed-use project on the Long Island City Waterfront.

NEW YORK — Winick Realty Group has completed retail leasing for TF Cornerstone's East Coast Development, a mixed-use project on the Long Island City Waterfront. The large project consists of six buildings with approximately 3,000 apartments and the largest retail development in Long Island City.

Eight retail leases cover retail space in five of the buildings: 4545 Center Boulevard, 4540 Center Boulevard, 4610, 4615 and 4630 Center Boulevard.

June 24, 2014

Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio. “For a cost so large, you should have a strong knowledge about the assets covered by your leases.”

June 20, 2014

Chain Store Age magazine is accepting nominations for its first-ever “POWER BROKERS” list, which recognizes retail real estate brokers who have garnered a top-notch reputation based on tenant rosters, sales and leasing transactions in terms of dollar value and square footage, as well as for demonstrating a positive attitude, high energy, proven results, and in-depth knowledge of the industry.

New York -- Chain Store Age magazine is accepting nominations for its first-ever “POWER BROKERS” list, which recognizes retail real estate brokers who have garnered a top-notch reputation based on tenant rosters, sales and leasing transactions in terms of dollar value and square footage, as well as for demonstrating a positive attitude, high energy, proven results, and in-depth knowledge of the industry.

June 19, 2014

Mid-America Asset Management Inc. has announced that the firm recently secured new retail leases on behalf of three shopping centers in Chicago’s northwest suburbs.

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has announced that the firm recently secured new retail leases on behalf of three shopping centers in Chicago’s northwest suburbs.

Fruitful Yield has taken 6,630 sq. ft. in North Tower Plaza in Elmwood Park, Illinois. The 26,088-sq.-ft. center features Super Cuts, Great American Bagel and Subway. Mid-America represented the landlord, while JLL represented the tenant.

June 13, 2014

Studio Movie Grill has acquired two leases for a 51,935-sq.-ft. building at the Town Center of Colleyville in Colleyville, Texas, according to Venture Commercial, the broker on the lease sale and assignment transaction.

Dallas, Texas — Studio Movie Grill has acquired two leases for a 51,935-sq.-ft. building at the Town Center of Colleyville in Colleyville, Texas, according to Venture Commercial, the broker on the lease sale and assignment transaction.

Following extensive renovations to the former Colleyville Cinema, the new Studio Movie Grill plans to open in late May.

June 12, 2014

Mid-America Asset Management Inc. has secured four new retail leases on behalf of three lifestyle shopping centers in the Chicago metropolitan area. Mid-America represented the landlord in each transaction.

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has secured four new retail leases on behalf of three lifestyle shopping centers in the Chicago metropolitan area. Mid-America represented the landlord in each transaction.

In Algonquin, Ill., Pure Mountain Company has taken 8,824 sq. ft. at Algonquin Commons in Algonquin, Ill. Premier Commercial Realty represented the tenant. Dick’s Sporting Goods, DSW, Old Navy, PetSmart and Trader Joe’s anchor the 578,825-sq.-ft. Algonquin Commons lifestyle center.

May 29, 2014

Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

New York — Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

The retailer has stores in affluent areas along the east and west coasts, from Boca Raton, Fla., to Annapolis, Md., and White Plains, N.Y., to Roseville, N.Y., and Palo Alto, Calif.

 

May 22, 2014

KeyPoint Partners has added three new property management and leasing assignments to its portfolio.

Burlington, Mass. — KeyPoint Partners has added three new property management and leasing assignments to its portfolio. The firm will manage and lease Walnut Hill Plaza, a 298,000-sq.-ft. retail center in Woonsocket, R.I., and Summit Square, a 133,900-sq.-ft.-retail center in Warwick, R.I.

In addition, KeyPoint will manage the 97,000-sq.-ft. Harbor Village in Townsend, Mass.

May 16, 2014

Rice Management Co. has selected Trademark Property Co. to oversee asset and property management, leasing and repositioning of the village Arcade in the historic Rice Village district of Houston, Texas.

Fort Worth, Texas — Rice Management Co. has selected Trademark Property Co. to oversee asset and property management, leasing and repositioning of the village Arcade in the historic Rice Village district of Houston, Texas.

The selection comes after Rice University exercised an option to acquire the leasehold interest in the two-level 195,000-sq.-ft. open-air retail center from the current owner, Weingarten. Closing is set for the third quarter of this year.

May 2, 2014

Mike George likes to say that his company is in the retail real estate information business. “Our clients buy, sell and lease retail real estate,” said George, principal and president of Oakbrook Terrace, Ill.- based Mid-America Real Estate Group. “Clients that buy and sell real estate rely on us for information that helps them make the best business decisions. When clients hire us to manage and lease shopping centers, they want our information-based decisions.”

May 1, 2014

Editor’s Note: The 25th annual survey of Fastest-Growing Managers surveys new domestic and international third-party management and leasing contracts obtained during the 2013 calendar year and ranks the top performers. As always, the measuring stick is square footage.