On the Floor at ICSC in New York
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Thanks to the Internet, regional luxury fashion names began desiring national recognition, JLL's (and colleague photobomb victim) Michael Hirschfeld tells us. Now they want to be multinational. That's partly why his brokerage, Surge Retail, was acquired by JLL over five months ago. In Chicago, Oak Street is coming back (or already is back, depending on who you talk to), he tells us. The city has a need for luxury, as the Burberry flagship on Michigan will prove, he says, but it's not the place for edgier, aspirational retailers.
We bumped into RKF's Lara Keene and Anthony Campagni. They're currently working on the repositioning of the 700k SF Streets of Woodfield in Schaumburg, which will deliver by late '15 or early '16. While the anchors have stayed, they say there are opportunities for soft good and lifestyle retailers. They've also brokered some recent Gold Coast deals, including Zadig & Voltaire at 114 E Oak St and Fig & Olive at 70-104 E Oak St, while also helping with Forever 21's relo.