From the special retail issue: Business is booming and competition is at a fever pitch for top retail real estate brokerages as vacancies hit record lows and rents continue to rise while consumer spending has ticked up nearly 18 percent above the previous peak. This dynamic has led to a flurry of activity for brokers as they handle acquisitions for owners eager to cash out of their investments and manage leasing for those who want to remain in the game.
“The markets are healthy with stable fundamentals, so there’s transaction activity,” said Frank Cohen, senior managing director for Manhattan-based investment firm the Blackstone Group. “In a healthy real estate market it is very important to have intermediaries that put the buyers and sellers together.”
To see which brokerages have been getting the big-ticket listings, The Real Deal crunched retail sales and leasing data for the period from March 1, 2015, to Feb. 29, 2016. [More]