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BOSTON-CB Richard Ellis/New England and Grossman Commercial Real Estate Group, Inc. are forming a joint venture to tackle the New England retail market. The JV, called CBRE/Grossman Retail Advisors, will provide “best-of-class retail services,” according to a release. The entity will be overseen by Howard Grossman, who will serve as president/managing principal.

“The economy is still struggling,” Grossman tells GlobeSt.com. “[But] we see anecdotal signs [of a turnaround].” Grossman explains that New England’s retail has been holding up better during the downturn, with strong, stable “workforce and economy foundations” such as healthcare, education, high tech and biotech. These industries keep unemployment from sky-rocketing. “If people are working, people are spending,” he says.

The joint venture will combine the extensive local knowledge of the smaller firm and utilize the national capability of the larger CBRE. The firm, meanwhile, will deal with both tenants and landlords to get them to their goals. Landlords are re-evaluating strategies, Grossman explains, and tenants are pulling back on their capital. With a lot of renegotiating and economic evaluations lately, there is a lot of opportunity for a servicer in the retail sector. The CBRE/Grossman team will also include, SVP and principal Jeremy Grossman; SVP and principal Kyle Juszcyszyn; VP of property management Paul Connolly and senior leasing associate Paul Grossman.

The Boston-metro area is home to a few national retailers’ headquarters such as BJ’s Wholesale, CVS and TJX the parent company of discount retailers TJ Maxx, Marshalls and HomeGoods. Retail, nationally, got a shot in the arm last month with a late Labor Day boosting comparable-store sales according to International Council of Shopping Centers Chain Store Sales Index. The ICSC report says that the late holiday helped with back-to-school sales, normally done in August, contributing to a rise for September’s sales figures.

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