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Power Brokers – 10 real estate heavyweights
It isn’t easy being a broker. The race for retail space is both a sprint and a marathon, requiring brokers to slam down deals while still carefully cultivating long-term relationships — making the most successful retail real estate brokers masters of two very different crafts.
In 2014, Chain Store Age debuted a “Power Broker” list that recognized 15 individuals based on transactional dollar volume and square footage for the prior 12 months, as well as on overall reputation in the industry. In 2015, we have named 10 to our second-annual list, chosen from nominations by retailers and brokerage houses around the country.
Four of the individuals recognized are what we call “The Power Four,” a group of three men and one woman who in total brokered a staggering $1.3 billion in retail leasing transactions last year. The remaining six are, without question, “Movers and Shakers,” recording $350 million across 200 deals.
The Power Four
Faith Hope Consolo
Chairman, Retail Leasing, Marketing and Sales Division
Douglas Elliman Real Estate, New York City
No. of 2014 retail transactions: 52
Dollar amount of 2014 retail transactions: $800 million
Key tenant clients: Bond No. 9, Paul Morelli, Peter Milar, OroGold, Caruso, Buccellati
Faith Hope Consolo topped the Chain Store Age Power Broker list last year, recording $600 million in leasing transactions. This year, the “Queen of Retail” upped the ante with $800 million.
Heralded as an expert on trend-spotting, neighborhood transformations, sales, leasing and all things fashion, Consolo is a powerful voice in the global community. Her knowledge of international commerce enables her to strategize with retailers within all sectors, whether unveiling national expansions or arranging flagship debuts in global capitals and suburban power centers.
What makes Consolo a good broker? “Being a broker is my passion. There is so much more to the profession than orchestrating real estate transactions. I build brands, transform the way people shop and create value on commercial corridors across the country. More than that, I love to shop and explore and am fascinated by people and architecture.”
Jeffrey D. Roseman
Newmark Grubb Knight Frank Retail, New York City
No. of 2014 retail transactions: 18
Dollar amount of 2014 retail transactions: $262 million
Key tenant clients: Blink Fitness/Equinox, Barneys New York, The National Basketball Association, Cinemex, Aurify Restaurant Group, Soul Cycle
Jeffrey Roseman is widely recognized as an industry leader in landlord and tenant representation. Over his 25-plus-year career, he has established himself among NGKF’s top producers, and completed transactions totaling over 10 million sq. ft. of retail space and valued at more than $2 billion.
Roseman has developed entry and expansion strategies for the top national and international retailers, including Urban Outfitters, Potbelly and Chipotle. He was a pioneer in the transformations of Union Square, Chelsea, SoHo and Times Square, bringing major retailers into these areas and elevating once-overlooked neighborhoods to sought-after destinations.
What makes Roseman a good broker? “I take ownership of every project that I am hired for, whether it is marketing and leasing a property by trying to understand everything about the property, or helping a retailer expand and learning everything there is to know about their business.”
Executive Managing Director
DTZ, San Jose, California
No. of 2014 retail transactions: 87
Dollar amount of 2014 retail transactions: $103 million
Key tenant clients: 24 Hour Fitness, MOD Pizza, Capital One, Sur La Table, Guitar Center, Party City
James Chung represents more than 30 national tenants and over 6 million sq. ft. of retail across Northern California, focusing on both ground-up and existing grocery-anchored and power/promotional shopping centers. Chung is no stranger to accolades. Just a sampling of his professional recognition includes:
• 2006-2014 DTZ Retail – Terranomics Top 5 Producer; • 2010 Cassidy Turley Leadership Award; • 2012-14 Cassidy Turley Top Ten Retail (nationally); • and 2014 Cassidy Turley National Retail Broker of the Year.
(Cassidy Turley is now DTZ.)
What makes Chung a good broker? “Authenticity.”
Senior VP & Market Leader
SRS Real Estate Partners, Newport Beach, California
No. of 2014 retail transactions: 31
Dollar amount of 2014 retail transactions: $91 million
Key tenant clients: Planet Fitness, Harbor Freight, Raising Cane’s, AutoNation, WSS Shoe Store
The youngest of the “Power Four,” Garrett Colburn is another repeater from Chain Store Age’s year-ago list, and has been recognized with a CoStar Power Broker award in the Orange County Retail Broker category for the last four years and as the Planet Fitness National Broker of the Year award for the last two years. Colburn launched his career as a land planning and entitlement consultant, transitioned into retail development management, and from there into retail brokerage.
What makes Colburn a good broker? “Having great clients is key, and I’m fortunate enough to have some of the best in the business. I pay close attention to the details and strive to provide a level of service that exceeds my clients’ expectations.”
The Movers and Shakers
Newmark Grubb Knight Frank, Los Angeles
No. of 2014 retail transactions: 30
Dollar amount of 2014 retail transactions: $82 million
Key tenant clients: H&M, COS, & Other Stories, Soul Cycle, IRO
Jay Luchs is a go-to source for upscale retail real estate in the Los Angeles region, bringing the biggest names in high-end fashion to the iconic shopping streets of Beverly Hills, Rodeo Drive, Santa Monica, Venice and Hollywood. Luchs is an expert in LA expansion for international retail and fashion brands, and has already surpassed over $1.5 billion in lease and sale transactions in his career.
What makes Luchs a good broker? “I love what I do. I had a few jobs before this one in the entertainment and advertising sales business that were great stepping stones into this career, but I didn’t love my work. The reason I love what I do now is because it’s a 24-hour, high-energy job. Putting pieces of a puzzle together day in and day out is exciting and addicting.”
Jason D. Richter
HUDSON, New York City
No. of 2014 retail transactions: 95
Dollar amount of 2014 retail transactions: $40 million
Key tenant clients: Perfumania, Ricky’s NYC
Jason Richter’s star has been rising for more than 10 years — and CSA has had him in our sights since 2013, when we recognized the then-34-year-old VP real estate for Perfumania as one of our “10 under 40” in retail real estate. Today, Richter owns his own newly launched firm representing several national and regional retailers as well as landlords, which allows the young star to put his retail real estate experience to good use.
What makes Richter a good broker? “I believe being able to shed light on process and necessary resources, both in real estate and construction, helps me provide a service beyond what my clients have come to expect from the brokerage community.”
Executive Managing Director – National Retail Advisory
Newmark Grubb Knight Frank, Chicago
No. of 2014 retail transactions: 22
Dollar amount of 2014 retail transactions: $77 million
Key tenant clients: Pret a Manger, FedEx Office, Noah’s, Children’s Learning Adventure, Kendra Scott, Vineyard Vines
Gregory Kirsch is known for his expert strategies on complex national rollouts, most recently executing over 100 retail transactions in 30 markets nationwide for Clearwire Wireless. He is also a technological trailblazer, equipping NGKF’s real estate advisory team with cutting-edge GIS technology and providing information on market demographics and psychographics to clients — an advantage that has streamlined the firm’s national retail network by allowing for strategic, data-based decisions when determining retail locations.
What makes Kirsch a good broker? “I tend to be a big data nerd, and research is central to all of my processes. I probably spend too much time sweating details and tech, but most of the time my clients appreciate having a complete picture of a market and all of its moving pieces. Ultimately, my clients’ success in procuring and completing a transaction rests on how effective we are at painting that entire picture and executing as authentically as possible.”
Nick A. Hernandez
Managing Director, Retail Services Group
No. of 2014 retail transactions: 19
Dollar amount of 2014 retail transactions: $51 million
Key tenant clients: Darden Restaurants, Men’s Wearhouse/K&G Menswear, Shake Shack, J. Alexander’s, Peter Piper Pizza, Mercantile Commerce Bank
Nick Hernandez’s vision for large-scale, mixed-use retail projects has led him to be involved in Houston’s most high-profile lifestyle/mixed-use developments, including Market Street at The Woodlands, LaCenterra at Cinco Ranch, Sugar Land Town Square and High Street. Currently, Hernandez leads a team that is working on Houston’s most dynamic mixed-use projects, including River Oaks District, CityPlace at Springwoods Village and West Ave at River Oaks. Highly sought after for interviews and speaking engagements, he provides advice that is instrumental in pitching retail and mixed-use development.
What makes Hernandez a good broker? “Throughout my career, I have worked hard to bring both sides of the transaction together in order to achieve a ‘win-win’ outcome. This requires the skill of seeing the transaction from all angles, building and maintaining strong relationships, being creative and having a lot of persistence.”
The Shopping Center Group, LLC, Memphis
No. of 2014 retail transactions: 13
Dollar amount of 2014 retail transactions: $54 million
Key tenant clients: Dick’s Sporting Goods, Garden Ridge, Five Below, Conn Appliances, LA Fitness, Panera Bread
Danny Buring is recognized as a leader in retail real estate in Memphis, and his company is quick to say that he leads by example — with a majority of his time devoted to training and mentoring younger agents. Local papers and business journals frequently seek Buring’s opinion on market activity and information on his featured transactions. He opened the company’s Memphis office in 1999 and has led its steady growth and expansion of available services.
What makes Buring a good broker? “This is a relationship business, and it is important for the people who you do business with to like you. You can be the most talented broker in the world, but if someone does not enjoy your company they will not be your client for long. It also helps if you work at a great firm with great people.”
The Shopping Center Group, Birmingham, Alabama
No. of 2014 retail transactions: 30
Dollar amount of 2014 retail transactions: $45 million
Key tenant clients: Dick’s Sporting Goods, Field & Stream, Top Golf, At Home, Planet Fitness, PetSmart, Conn’s, AT&T Wireless, Chick-Fil-A
Founding member and partner of The Shopping Center Group’s Birmingham office, Greg Hess is a respected industry leader who consistently earns top honors as a leading Alabama retail broker; it’s not rare to see him as a guest lecturer, panelist or speaker at prominent industry events. Hess is responsible for the strategic implementation of new store development for numerous national and regional retailers and restaurants, and the relationships he has built with those clients has earned him wide-ranging respect in the real estate community.
What makes Hess a good broker? “I love my job and I have fun doing it. I have been fortunate to work with best-in-class retailers and have learned valuable lessons from some of the brightest and most seasoned practitioners in retail real estate. Retail brokerage is a team effort — I rely heavily on my GIS team, and I frequently partner with other brokers to leverage relationships and save time. I am also a strategic thinker, a hard worker and a creative deal-maker.”