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Real Estate Weekly

Demise of retail has been greatly exaggerated

The annual ICSC New York conference kicked off this year by confronting the elephant in the room head on through a marketing campaign.

Large billboards in the Javits Center, along with online and print ads touted the website shoppingforthetruth.com, part of a campaign by ICSC called “The Truth,” which seeks to dispel rumors about the industry and “learn the truth about the evolution of retail real estate,” according to one print ad.

It was a clever way to handle the changes the industry is going through at the moment, changes that some New York brokers said haven’t hit the local market as hard as the rest of the country.

“I’m definitely optimistic,” said Danielle Winick, of Winick Realty. “I’m incredibly busy and I’m positive about it, and I’m looking forward to a new year starting off strong with some deals that are going to push through then and close.”

Winick said landlords are changing their perspective and becoming more reasonable, like allowing more short-term deals and pop-ups, something they may not have considered previously.

“I know there’s a lot of articles about retail dying, but in a city like New York, I don’t think it’s as relevant,” said Winick. “There’s so much tourism, there’s so much office density and residential density, that people are always going to want places to go to get out of the house. GO look, feel, touch, and it’s about retailers evolving a little bit and just kind of changing the way they see it.”

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rew_121217_Demise of retail has been greatly exaggerated

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

New York Observer

Street Retail Looks to Malls in Figuring Out Ways to Cope With Big Rents

While malls and shopping centers are looking for ways to save themselves from crushing retail headwinds, at least one group thinks they’ve got something to learn from them: street retail.

The guys with the shops on the sidewalk are taking a page out of their playbook when it comes to structuring deals.

Young retail companies, e-commerce brands and even some legacy retailers looking for a brick-and-mortar presence are asking for terms long found in shopping centers—low base plus a percentage rent (meaning the retailer pays the landlord a certain percent of every dollar in sales over a certain threshold).

These deal structures aren’t confined to less trafficked and less high-profile areas of the city.

Lee Block, an executive vice president at Winick Realty Group, said that while he hasn’t closed any deals that incorporate a percentage-rent component, “we’re considering it on a handful of spaces that we represent.” That was the message conveyed by many brokers and landlords with whom Commercial Observer spoke.

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NY Observer-120717-Street Retail Looks to Malls in Figuring Out Ways to Cope With Big Rents

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

 

Real Estate Weekly

IN PHOTOS: ICSC NY 2017 conference at the Javits Center

New York’s annual ICSC Deal Making conference kicked off yesterday, Dec. 6, at the Javits Center.

Attendance is expected to top 11,000 for the first time, which would set a conference record, up from last year’s roughly 10,300 attendees, according to Timothy McGuinness, ICSC’s vice president of global trade expositions. The show has been held at the Javits Center since 2014, but this year’s conference space is to increase by 25 percent, to nearly 221,000 square feet.

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rew_120717_IN PHOTOS ICSC NY 2017 conference at the Javits Center

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

ICSC New York from the floor

The International Council of Shopping Centers’ annual New York Deal Making conference kicked off Wednesday, with thousands of brokers, owners and other real estate professionals arriving at the Jacob K. Javits Center on Manhattan’s West Side for the first day of the two-day event.

Agents from the top firms as ranked this month by The Real Deal, such as RKF’s Ariel Schuster, Winick Realty Group’s Jeff Winick, Cushman & Wakefield’s Joanne Podell and Newmark Knight Frank’s Jeff Roseman, were looking to find, advance or close deals.

The crowd ebbed and flowed, and brokers speaking with TRD had a hard time deciding if the event was more or less crowded than in prior years. ICSC, for its part, expects about 10,000 attendees will walk the show.

The show comes as retail deals are taking longer to close and are more complex, insiders said.

For more, download the full article in PDF

THE REAL DEAL_120717_ICSC New York from the floor

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

New York Observer

How a Former Garmento Became Oldest ‘Kid’ Leasing in Garment District

Richard Smith, a senior director at Winick Realty Group, is an old-school operator in all the best ways, relying on shoe leather and people skills to score new business through cold calls, relentless networking and building relationships face to face.

Smith, 62, grew up in Hewlett, N.Y., in the Five Towns section of Long Island. His father, Al Smith, manufactured brooms and mops. (He was not the four-time governor of New York.) Richard spent his Saturdays as a child playing in his father’s broom factory in Canarsie, Brooklyn, while Al played cards with friends.

Always idolizing his dad, the younger Smith got caught up in the excitement of business in 1969, when his father took his company, Ace Industries, public.

“It really drew me in when he got involved in Wall Street, because it was very exciting,” said Smith, who lives on the Upper West Side with his wife of 31 years, Rhonda. “It was really big business, and it made me understand that business wasn’t just going to your office every day; it was Wall Street and financial information that flowed. That really got me going.”

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NY Observer-120617-How a Former Garmento Became Oldest ‘Kid’ Leasing in Garment District

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

Is retail turning a corner?

On the whole, it’s been a difficult year for the floundering retail market, which had been referred to as “fucked” by one prominent investor as recently as the spring. But sources say there’s been a significant uptick in activity in the last few months.

This month, amid that backdrop, The Real Deal ranked New York City retail firms by the amount of square footage they leased between October 1, 2016 and September 30, 2017.

In Manhattan, RKF clinched the No. 1 spot with 1.03 million square feet inked south of 126th Street, including deals like Nordstrom Rack’s 47,267-square-foot lease at the Durst Organization’s 855 Sixth Avenue. Taking the top spot was a big feather in the firm’s cap, given that so many other brokerages saw a drop in deals.

Meanwhile, Cushman & Wakefield and Newmark Knight Frank ranked second and third, with 904,206 square feet and 424,808 square feet, respectively. CBRE and Winick Realty Group rounded out the top five.

It should be noted that retail deals are notoriously hard to track because they are not logged in any public databases. As a result, TRD relied on firms’ submissions and news reports to determine totals. Not all firms participated. JLL, for example, declined.

But the numbers offer a window into a market that’s very much in flux. And this year, for the first time, TRD also ventured across the river to rank the firms brokering the most retail deals in Brooklyn.

In that borough — where prime corridors like Broadway in South Williamsburg and Flatbush Avenue from Atlantic Avenue to Grand Army Plaza are seeing significant action — Winick took the No. 1 spot with 163,109 square feet leased. RKF and Ripco Real Estate ranked second and third, with 161,774 square feet and 134,473 square feet, respectively. SCG Retail and Kalmon Dolgin Affiliates rounded out the top five.

For more, download the full article in PDF

THE REAL DEAL_120117_Is retail turning a corner

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.