ATLANTA-With retail markets heating up, The Shopping Center Group (TSCG) is making its market moves. TSCG just announced a merger with Northwest Atlantic Real Estate Services, one of New York’s top 10 retail brokerage firms. The merger marks TSCG’s entry into the northeast.
Northwest Atlantic Real Estate Services will take on the TSCG banner, expanding the firm’s tenant representation services and adding third-party leasing, retail property management and retail investment sales to its services suite. The merger adds one office and 13 employees to TSCG.
“The northeast United States and specifically metropolitan New York city has always been an attractive area for us in which to achieve a presence,” David Birnbrey, co-CEO of TSCG, tells GlobeSt.com. “The challenge was to identify a group with whom we have a cultural match. Northwest Atlantic offers that cultural match.”
The merger opens up new opportunities for the combined firm. Birnbrey says TSCG already does a significant amount of work with institutional owners of real estate who are either based in the New York area or that have a significant presence there. A New York office helps the firm make a stronger connection with those clients.
Northwest Atlantic represents some of the biggest names in retail, including Starbucks, Whole Foods, Staples and Costco. The firm inked more than half a million square feet of deals in the Northeast last year.
“Our success is grounded in a focus on our clients’ overall business objectives and strategy—not on a specific deal,” David Firestein, president of Northwest Atlantic, said in a statement. “So the infusion of third-party leasing and management and investment sales acumen into our team undoubtedly enables us to better serve our clients’ comprehensive needs.”
TSCG plans to open a Manhattan office in 2012. The firm’s initial focus will be to add to the menu of services currently offered in the Tri-State region, expanding its team as necessary. As Sam Latone sees it, New York is the undisputed gateway to the United States: “The merger is a launching pad for our continued expansion as we pursue our goal of being the number one retail real estate service provider in the country.”
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