TRD’s ranking of top retail leasing brokerages in four major markets shows that a few thriving chains are offering bright spots in gloomy markets
New York City
Updated May Property owners seem to be willing to get a bit unconventional these days to keep rent payments rolling in amid the ongoing waves of store closures.
Indoor amusement parks, doctors’ offices, movie theaters, gyms and even discount stores — once considered undesirably downmarket — are plugging holes in vacancy-riddled shopping centers and storefronts as rents decline, leases shorten and concessions spike, brokers and owners say.
The Real Deal’s ranking of the top leasing deals and brokerages in major markets in the U.S. reveals that, despite efforts by national firms to boost their retail teams in recent years, the marketing of stores is still largely a local game outside of Los Angeles and New York City. “We’re all trying to do the best we can,” said Marty Shelton, an L.A.-based broker with NAI Capital, the second most active retail leasing brokerage in L.A. County, with 718,825 square feet rented over the past 12 months, according to TRD’s analysis.
To rank the top brokerages in leasing for Chicago, Miami, L.A. and New York, TRD examined data provided by commercial real estate services firm Lee Associates NYC on new retail leases and renewals in those markets from April 2017 to March 2018. Brokerage leasing totals and deals were shared with the firms, which were given the option to submit additional informati[……]