Exclusive: Sterling Bay Turns To Mid-America To Lease Its Retail Portfolio
Sterling Bay has been in the headlines for the past month between its future development plans, dispositions and acquisitions. It's a sign of a firm that's growing by leaps and bounds. Yesterday, Sterling Bay and Mid-America Real Estate announced a partnership in which Mid-America will serve as the leasing agent for Sterling Bay's retail portfolio.
Mid-America principal Paul Bryant and VP Andrew Becker will join forces with Sterling Bay VP Jessica McLinden Brown, who heads the firm's retail leasing division, to lease up the majority of Sterling Bay's local assets. Jessica says the partnership comes at the right time; until now, she's been the only one handling the leasing responsibilities.
Jessica says she developed a good relationship with Andrew and Paul when they worked together to lease 945 West Randolph (pictured) and 1000 West Randolph. Together, they brought in Nando's Peri-Peri, Starbucks Reserve, Anthropologie, Sweetgreen and Umami Burger. The synergy between the three led Sterling Bay managing principal Andy Gloor to recommend the partnership.
In addition to Sterling Bay's Fulton Market assets, the firm has retail in the Talbott Hotel in the Gold Coast, property at 300 North Michigan and future developments in Lincoln Park, which Jessica says she hopes will include retail on the 45 acres Sterling Bay controls in the Clybourn Corridor. With Andrew and Paul handling the lion's share of the leasing duties, Jessica can focus on implementing Sterling Bay's retail expansion into other national markets like Miami, Nashville and Portland.