News
ICSC DAY TWO
December 9, 2009
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| Somehow things were even more abuzz than yesterday at the Hilton, with deal seekers all over ICSC. Lansco Corp’s Howard Dolch (with colleagues Alan Victor, Robin Abrams, Sylvia Haddad, and Jerry Ginsberg) noticed upbeat and hopeful attitudes, so we'll see if it translates to interest for the 11.4k-SF showcase opportunity Lansco is marketing at 155 Fifth Ave. The retail space includes three levels, perfect we’re told for a fashion tenant, joining neighbors like BCBG, Club Monaco, and A|X Armani Exchange. |
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| For the national view, we turned to Jones Lang’s Greg Maloney, Joe Brady (who didn’t get the orange tie memo), and John Bemis. Even though sales are down, they say profitability has been up as many retailers lower inventory and are more efficient. Last year, anyone with “Dollar” in their name grew (not as much as “Just-a-Euro” stores, we bet), but all kinds of retailers are now looking to expand with rents rolled back to ’02 levels and quality space available. Smart retailers will take advantage, John notes, like Ultimate Electronics, which is grabbing vacant space left behind by names like Circuit City. |
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| The market’s certainly moving in the right direction, according to Ackman-Ziff’s Mike Pfaff and Rick Lechtman, who tell us more capital sources have appeared in the past three months, especially on the debt side. Money is appearing through the reemergence of traditional securitization, and we’re seeing some from foreigners, life companies, and both national and local banks. In turn, clients are starting to acquire properties. Expect ’10 to be much better, they say (and we’ll hold them to that). |
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| FirstService Williams’ Adam Zeiberg, Caitlin Fracchia, and Ryan O’Connor tell us that the firm is undergoing an aggressive recruiting campaign; its retail division has been quite active with clients like Destination Maternity, Journeys, Ulta, and a variety of national and regional landlords. Among its recent openings:Waterworks’ 8k-SF relocation to 215 E. 58th St. and Destination Maternity’s newest 8.4k-SF location across from Roosevelt Field Mall in Carle Place, Long Island. |
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| Esquire Properties’ Craig Hantgan, The Fagen Group’s Stu Fagen, CB Richard Ellis’ Jay Siano, and the man with the perfect name for ICSC, Bohler Engineering’s Joe Deal. Craig and Jay are working to bring Kidville to Long Island, while Jay’s also working on expanding Anthony’s Coal Fired Pizza throughout the Northeast. And congrats to Joe, who was just named NY branch manager in Bohler’s Ronkonkoma, Long Island office. |
