UPDATED, Nov. 2, 4:30 p.m.: Colliers International strengthened its retail arm on Wednesday, luring Cushman & Wakefield vice chairs of retail Bradley Mendelson and David A. Green to the firm.
In making the announcement Wednesday, Colliers said Mendelson and Green will be senior partners of the retail team and will focus on big transactions in New York.
The deal appears to be a blow for Cushman & Wakefield, which last year ranked as the top retail brokerage in New York City by square footage leased. The retail division, led by Gene Spiegelman, leased nearly 20 million square feet between Feb. 1, 2015 and March 1, 2016, according to an analysis by The Real Deal. By the same measure, Colliers brokered lease deals worth just under 10 million square feet during the same period, ranking fifth. Cushman also totaled $6.2 billion in retail sales during that period, while Colliers handled $3.7 billion, the analysis showed.
Mendelson, who joined Cushman & Wakefield in 2004 after a stint at CBRE, has brokered a number of high profile retail deals in the city, including the deal that landed Toys ‘R’ Us its 105,000-square-foot space in Times Square. That deal, which he co-brokered with Green, won a Real Estate Board of New York “Ingenius” award in 2000.
Mendelson also represented the landlord of that property, Bow Tie Partners, when the Gap and Old Navy took it over from Toys ‘R’ Us.
Cushman did not address the departures of Mendelson and Green, but in a brief statement said it was “committed” to expanding its retail team.
This story was updated to include a statement from Cushman & Wakefield.