BOCA RATON, FLA. – The Shopping Center Group, the largest, retail-only real estate advisory firm in the Eastern United States, opened its Boca Raton, Fla. office marking its fifth location in Florida and 22nd company-wide. With the opening, the firm extends its retail-specific expertise to the northern region of South Florida by providing landlord services to institutional and private owners of retail real estate.
The office officially opened in August. “Although Boca is only 83 miles from the firm’s Miami Office, the drive can take as long as two hours due to Interstate 95 congestion,” explains Jason Morganstern, senior leasing advisor, The Shopping Center Group, Boca Raton office.
“This is no surprise as South Florida is home to 5.7 million consumers creating one of the most densely populated markets in the Southeast. While South Florida is typically high on the list of retailer’s expansion plans, the market’s density creates a unique challenge for Miami-based service providers in extending their efforts north on behalf of their clients. Boca Raton’s location halfway between Fort Lauderdale and West Palm Beach is the ideal hub for our dedicated landlord services team to serve the northern portion of this region and complement our existing landlord services platform in Miami.”
In addition to Morganstern, the Boca Raton landlord services team includes Kesha Williams, leasing advisor, and Frescia Perez, property manager. In just a few short weeks, The Shopping Center Group has secured exclusive leasing and management assignments for two privately owned shopping centers. In Hollywood, Fla., Presidential Plaza is in the process of being redeveloped.
The Shopping Center Group Boca team is repositioning the center with a new merchandising strategy that better aligns with the needs of the surrounding community, along with façade improvements to enhance the visual appeal of the center. Although the center is currently 94% occupied with only 2,242 square feet of space available, the team plans to remerchandise the majority of the property. In Davie, Fla., The Shopping Center Group is leasing Flamingo Commons. The center is currently 68% occupied with 4,265 square feet of space available. In addition, The Shopping Center Group is finalizing additional listing agreements with several institutional retail real estate owners that recognize the value in the firm’s local market knowledge, industry acumen and retail-specific advisors.
“The Shopping Center Group builds teams of specialists, not generalists,” explains Jonathan Dubovsky, director of leasing, Florida and Georgia, The Shopping Center Group. “In addition to specializing in retail – and only retail, our landlord services teams are also specialists in their job functions such as leasing or management. Our company has found that this focused approach yields the greatest results for our clients – the property owners and their investors.” “This assembled team doesn’t just fill space,” continues Dubovsky. “Our experts seek to create value by fastidiously studying the trade area, creating the optimum merchandising mix, leveraging long-standing national and regional retailer relationships, identifying local retailers with a strong community brand, and communicating with substance and frequency.”
The Shopping Center Group targets markets of dominant influence when seeking new office locations. This strategic approach enables the firm to hire and nurture retail specialists who meet the specific needs of each market. “We recognize that the south Florida retail market is controlled by a number of individual as well as institutional property owners. As strategic retail advisors, we are adept at managing a diverse set of investment goals and adjusting our services to suit each client’s needs,” explains Morganstern. “Our clients have come to expect quality, creativity and consistency from our advisors throughout our 22-office footprint. The Boca Raton office will continue this tradition.”
The Shopping Center Group provides leasing and management advisory services on behalf of the most respected retail real estate companies throughout the United States. The firm leases 55 million square feet in 550 retail centers and manages 10 million square feet of retail space throughout the Eastern United States. The firm also has offices in Miami, Orlando, Jacksonville and Tampa.
About The Shopping Center Group
Founded in 1984, The Shopping Center Group is a retail real estate advisory firm respected for its analytical approach, wide-ranging resources and industry leading results throughout the Eastern United States. The firm delivers "best in class" service in project leasing, property management, investment sales, development consulting, construction supervision, receivership, acquisition advisory services, tenant representation and surplus property disposition to retailers, landlords, developers, investors and financial institutions. In 2012, The Shopping Center Group’s transaction volume topped $1.1 billion, a 25% increase over 2011 transactions. The firm’s third-party portfolio includes exclusive leasing assignments for over 550 retail properties totaling 55 million square feet and management agreements for 10 million square feet of retail property. The firm also represents over 300 national and regional retailer and restaurant operators. For more information, visit www.theshoppingcentergroup.com. # # #