Shawn Massey, CCIM, SCLS

The Shopping Center Group | Takes Manhattan and More

Please see article posted in this weeks Dealmakers!

The Shopping Center Group | Takes Manhattan and More

The Shopping Center Group has provided a full range of real estate services to retailers, landlords and developers since 1983. With more than twenty offices, its team of specialists is dedicated to maximizing results with a finely-tuned and custom approach for each client in both urban and suburban settings. The company merged with the New York offices of Northwest Atlantic Real Estate Services this year and now operates as SCG Retail in Manhattan and The Shopping Center Group in White Plains, New York. The merger extended The Shopping Center Group’s reach to a national platform. Furthermore, the company refined itself with the addition of “Retail” to represent itself as a brokerage firm that also specializes in urban street front store leasing with an expertise in vertical retailing, in addition to leasing and investment sales of traditional suburban retail settings. Prior to the merger, The Shopping Center Group already had a strong presence in the markets spanning from southern Florida upward to northern Virginia. The merger created a national scope for the company, which now has 134 brokers representing hundreds of retail chains, in addition to its network as a Chain Links member, and responsible for the leasing and management of nearly seventy million square feet of shopping centers, along with a newly-formed investment sales division.

SCG Retail now has an office in the heart of New York City on Columbus Circle, as well as its office in Westchester. Its team members have a long history of completing deals in New York, NY and the outer boroughs, in addition to New Jersey. Recently, the brokerage firm assisted Whole Foods with expansion in the greater New York, NY market and New Jersey. It finalized nine deals with Whole Foods throughout Manhattan, in addition to two sites in Brooklyn, and seven locations throughout New Jersey. Three more supermarkets will be opening in New Jersey at locations in Marlboro, Closter and Parsippany. The partners of the New York office also introduced Starbucks to Manhattan in 1994, and has since completed over two hundred deals with the chain throughout the New York, NY metropolitan area and most recently completed its Times Square flagship location. The company also exclusively represents Bobby Flays Burger Palace, Costco, Dinex Group, Guitar Center, Papyrus, Staples and Sushi Shop throughout the New York, New York metropolitan area. The company’s success is, in part, due to its ability to represent clients in both urban and suburban markets within one of the most densely populated and competitive retail real estate markets in the country.

The firm also recognizes that bringing international chains to the United States is a logical approach and especially within the greater New York, New York trade areas, since New York City is ultimately the gateway for international chains to make their debut in the states. The Shopping Center Group brokers, including Chase Wells, also attended MAPIC (Le marché international professionnel de l’implantation commerciale et de la distribution), an international retail real estate show held in Cannes, France. The overseas venture enabled the firm to introduce the New York City market to numerous European retail chains.

 

This year was a banner year for the brokerage company. In addition to negotiating numerous deals with national retailers, The Shopping Center Group also launched an investment sales division in New York. “This new division made it possible for us to work the sales side of the equation. It gave the firm greater market knowledge and allowed an entry into working with other tenants, landlords and investors,” stated David Firestein, partner. With this new division, the company also welcomed Lynn DeMarco to its New York office. DeMarco will serve as the director of investment sales for the northeast. With over twenty years of commercial real estate experience, DeMarco has been involved in nearly $3 billion in transactions.

Knowing that the urban market can be a challenging terrain to navigate, the firm has developed SCG Retail to help clients with the difficulties of finding retail space in New York City. “The challenge with bringing a large-store-format chain into a tight, urban market usually lies with the retailer. The stores need to be multi-level in order to fit in urban environments and if the retailer is not creative and doesn’t think outside of the box, it’s not going to work for them.” explained Firestein. Jacqueline Klinger, one of the company’s lead brokers, also noted, “These big-box tenants, who are opportunity driven, also need to be flexible. The competitive market doesn’t just affect with retailers using a large footprint; it affects the smaller ones too.” Firestein explained. “It’s also difficult for retailers with smaller stores to find sites and execute initial roll-outs in this market because everything is so expensive. It’s a high-wire act, but once they are here and succeed, most of our clients have reported that their New York locations have the most volume.” Despite the challenges of working in an urban market, The Shopping Center Group has thrived in a competitive environment and successfully brought chains to one of the most dynamic retail marketplaces in the world. With the expertise and dynamic thinking of SCG Retail, big box retail and even smaller companies can achieve great success in the New York market despite the many challenges that await them.

The firm utilizes a geographical information system to deliver specialized data for its clients and provides in-depth market analysis for site selection and property evaluations. The company aggregates data from many sources and generates reports in graphic formats that easily communicate the results for each client. The data is customized and analyzed to best identify site requirements and the objectives of its clients and often includes carrier route data, drive-time information, demographics, trade area analysis, specialized income and population grid maps, along with maps of all major retailers, digital aerial photography and large photographic quality presentations. The firm’s research capabilities often save its clients, both retailers and landlords, in addition to investors, time and capital.

For more information, contact Dave Firestein, SCG Retail, 1841 Broadway, Suite 600, New York, NY 10023; 212-741-2500; Email: dfirestein@scg-retail.com; Web site: www.theshoppingcentergroup.com.

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