TSCG and Binswanger Form Retail JV
We caught up with The Shopping Center Group's CEO David Birnbrey fresh from announcing a new alliance with Binswanger to form a retail logistics group. That is, handling retailers' work on both the storefront and the industrial front. The industry is focusing on aligning the two product types as e-commerce eats more into traditional brick-and-mortar sales, David says. (Technology is great for turning us all into hermits.) The deal allows TSCG and Binswanger to leverage off each other to control more deals among clients.
Jeff Binswanger (here with Binswanger's Jim Medbery), who just returned from a trip to Turkey, says the TSCG deal is part of an overall strategy to be a one-stop shop for clients in light of similar strategies by brokerage giants like CBRE and JLL. "As big as the world is, the world is getting smaller and companies are asking for more," Jeff says. "As good as we were in distribution we could not deliver the stores." This isn't the first alignment strategy with other firms in other expertise: Binswanger has created JVs with CH2M Hill for engineering work and GoIndustry-Dovebid to help dispose of industrial equipment through online sales or auctions.