Walking the Floor at the International Council of Shopping Centers conference
By Jotham Sederstrom December 7, 2011 3:00 pm
reprints12:45 – Adelaide Polsinelli, a sales broker with Marcus & Millichap, is chatting outside the ballroom back in the main reception. “I come here to meet people,” she says, pausing to say hello to a passing acquaintence. “You see? He’s a multifamily buyer, what is he doing at a retail event lie this? Now I am going to show him properties with a retail component. That’s what you get when you come to this, incredible intel.”
1:15 – Brothers Jason and Albert Laboz bask in the glory of having freshly closed a deal. The pair have purchased the base of downtown Brooklyn’s Municipal Building, roughly 40,000 square feet that the city is selling to them as a condo and that the pair will convert into retail space. The two paid $10 million for the space and estimate it will take $10 million more to do construction on the space.
1:45 – Jeffrey Weinhaus, chief development officer for Equinox gym chain bemoans the fact that he’s not going to be able to hit the afterhours circuit tonight of parties and cocktails. “I agreed to go to dinner with a client and turns out it included a performance of Phantom of the Opera afterwards.”
2:00 – Joseph Jacobson, executive with Madison Capital, says that the outlook for retail is encouraging in the city. “You get a forecast at this event and so far it’s been very positive.” Madison Capital he says, just closed a deal with Walgreens to take a little over 20,000 square feet at the firm’s downtown office property 100 Broadway. “We’re marketing another 4,000 square feet there now.”
