ICSC 2014

Slideshow: Galavanting Around Vegas for ICSC RECon

25 Photos

International Council of Shopping CentersRECon was slammin’ this year with 33,500 people in attendance at the annual Las Vegas retail convention. The total attendance reached a post-recession high, a convention spokesperson told Commercial Observer. There were more than 1,100 exhibitors and tons of overlapping parties. Check out some of the photos we snapped while galavanting around the convention center and some of the corporate carouses. Read More

ICSC 2014

Retail’s Mild West?

Hudson Yards.

As deals continue to be signed by high-end retailers at the World Trade Center and Brookfield Place, the focus of New York retail leasing is firmly on lower Manhattan. But on the Far West Side, a 750,000-square-foot retail component is set to debut as part of the ambitious Hudson Yards development.

So far, only Fairway Market has officially committed to space at Hudson Yards. But with talk of a major department store being in negotiations, the acceleration of leasing is surely right around the corner.  Read More

ICSC 2014

Atlantic Terminal Mall Scores Three Lease Renewals

Atlantic Terminal Mall. (Flickr/Rich Mitchell photo edited)

Ten years after the opening of Atlantic Terminal shopping center three tenants have signed as-of-right renewals at the Downtown Brooklyn megamall, Commercial Observer learned.

The Children’s Place, Payless and Starbucks all renewed their leases for five or 10 years and are remodeling, Kathryn Welch, executive vice president at Forest City Ratner Companies, told CO at the International Council of Shopping CentersRECon. The Bruce Ratner-headed firm developed the project. Read More

ICSC 2014

New Yorkers’ Love/Hate Relationship With Chains

New Yorkers: Nuts for Five Guys.

New Yorkers like to fancy themselves sophisticates, but when it comes to chowing down on a Five Guys burger, chugging a Starbucks coffee or finding a clothing bargain at Nordstrom Rack, they often react like the rest of the nation: with giddy excitement.

Take the May 27 opening date for the first Manhattan Dairy Queen. Fans are stoked that the Midwestern Blizzard purveyor will come to 54 West 14th Street with a 110-seat eatery. And while Chick-fil-A has been catching heat for its president dissing gay marriage, local lovers of the nation’s largest chicken chain are happy it will expand in the city beyond its one location on the New York University campus. Read More

ICSC 2014

All Aboard? 2nd Avenue Subway Set to Transform Retail


The landscape north of 72nd Street along Second Avenue has long been dominated by residential towers and corner grocers. Mom-and-pop retailers are far more present there than on Lexington and Third Avenues, where H&M, J.Crew and Brooks Brothers have all committed to space in recent years and where a Whole Foods is on the way.

But with the debut of the Second Avenue subway on the calendar for late 2016, the retail terrain in Yorkville may be set to change. Read More

ICSC 2014

Skincare Specialist Leases First Manhattan Store

1031 Third Avenue.

Infinite Beauty is getting ready to break into the New York City market with its first Manhattan location, Commercial Observer has learned.

“They are to skincare what Sephora is to cosmetics,” Douglas Elliman broker Faith Hope Consolo told CO on the last day of the International Council of Shopping CentersRECon. She along with colleague Joseph Aquino represented the tenant as well as the landlord, Marolda Properties, Inc., in the 1,800-square-foot lease deal at 1031 Third Avenue at the corner of 61st Street. Read More

ICSC 2014

Long-stalled BJ’s in New Jersey To Get $50M For Resurrection

The inside of a BJ's Wholesale Club

A new BJ’s Wholesale Club store in Howell, N.J., will receive $50 million in funding from Fox Chase Bank brokered by Eastern Union, Mortgage Observer has first learned.

The project, underway at Route 9 and Lanes Mill Road, will anchor a nearly 300,000 square foot retail center. Eastern’s Eli Breiner just sewed up the deal yesterday, finalizing the details while in Las Vegas at ICSC REConRead More

ICSC 2014

Three Major Mortgage Brokerages Plan to Expand or Open New Offices

Las Vegas, where ICSC's RECon was held this week

Both Marcus & Millichap Capital Corporation and HKS Capital Partners are mulling opening new offices amid increased business in Florida and elsewhere in the U.S., executives at those firms told Mortgage Observer.

William Hughes, a senior vice president with MMCC out of the firm’s Newport Beach, Calif. Office, said his company was planning to open two additional offices in White Plains, New York and Jacksonville, Flor. That would complement the 35 offices MMCC already has nationally. Read More

ICSC 2014

RKF’s Growing Gains

430 West 15th Street, where RKF is marketing 27,000 square feet of retail.

After recently expanding several of its offices, including those in Manhattan, RKF’s Robert Futterman said the retail brokerage could stray from its anti-poaching past as it continues to grow amid ideal market conditions.

The firm expanded this month into 20,987 square feet on the seventh floor at 521 Fifth Avenue, as first reported by Commercial Observer. The firm also recently struck deals for larger offices in New Jersey and Miami and has made forays into London and Toronto. Read More

ICSC 2014

The Dirt on ICSC’s RECon

rgb_-Las vegas- by Moyan Brenn4

ICSC RECon is sprawling and frenetic enough to test the nerves of grizzled veterans and wide-eyed first timers alike. Commercial Observer picked up some expert advice on the event that hopefully came in handy for those now leaving Las Vegas.

Chase Welles, SCG Retail

Strategy: “I’m almost completely booked with existing clients and solidifying current deals and will take a look at new ones. I also make it my business to go to Lotus of Siam. It’s the best Thai restaurant in the country.”

Trend prediction: “Sunday of ICSC is the new Wednesday.” Read More

ICSC 2014

SCG Retail’s Chase Welles Talks Whole Foods, RECon and Tinder

Chase Welles of The Shopping Center Group5/13/14

Retail pro Chase Welles is a man with a mission. The executive vice president of SCG Retail represents some of the biggest tenants—Whole Foods, Kohl’s, LA Fitness—and is always looking for new locations for them. He and David Firestein owned Northwest Atlantic until a couple of years ago when the company merged with the Atlanta-based Shopping Center Group. Today, the duo owns 90 percent of what became SCG Retail, the Shopping Center Group’s New York division. On the week of the International Council of Shopping Centers’ RECon in Las Vegas, Commercial Observer sat down with Mr. Welles in his Columbus Circle office to chat about his Williamsburg Whole Foods deal, Tinder and boating. Read More

ICSC 2014

UFC Gym Opening Second NYC Location, on Canal Street [Updated]

277 Canal Street.

UFC Gym is taking over a third-floor Canal Street space formerly occupied by Five Points Academy, Robert Frischman, the executive vice president of retail at EVO Real Estate Group, told Commercial Observer at the International Council of Shopping Centers’ RECon in Las Vegas. And Five Points is moving after six years on Canal Street to Lafayette Street.

“They downsized because they couldn’t afford to pay the rent they were paying,” Mr. Frischman said of Five Points. He represented both sides in the Canal Street deal. Read More