Retail Heavyweight Gorelick Joins Cushman & Wakefield As Head Of Retail For The Americas

Former Simon Property Group and Ralph Lauren executive to lead firm’s retail platform and client development

NEW YORK – Industry veteran David Gorelick, a renowned Simon Property Group and Ralph Lauren Corporation executive, will join global commercial real estate brokerage Cushman & Wakefield as Executive Managing Director and Head of Retail for the Americas, the firm announced today.

In his new position, Gorelick will be responsible for building stronger client relationships and deepening the firm’s retail platform, including expanding retailer tenant representation and agency leasing services lines. He will also continue to attract and retain top talent across the Americas ensuring Cushman & Wakefield continues to fully support our clients with the strongest retail team. Gorelick will also work closely with John Morris, head of Cushman & Wakefield’s Logistics & Industrial practice group, to align the firm’s newCommerce strategies that merge retailers’ back-end supply chain functions with their e-commerce, and bricks-and-mortar retail locations.

“As we deepen the commitment to our Retail practice, we’re thrilled to have someone of David’s caliber at the helm to spearhead our strategy and drive growth across the Americas,” said Todd Schwartz, Chief Operating Officer, Americas at Cushman & Wakefield. “David’s experience working in-house at several major global retail brands as well as one of the world’s most significant retail landlords provides him with an in-depth and highly relevant understanding of our clients’ needs. His unique perspective and dynamic leadership style will be instrumental in ensuring that Cushman & Wakefield’s retail practice continues to provide the highest level of service to our clients in an ever-evolving retail landscape.”

Gorelick brings more than 15 years of retail leadership experience to his new role. He most recently served as Vice President, Simon Property Group, Premium Outlets, where he managed global retail accounts across the firm’s 31 million square foot portfolio and was also responsible for identifying and executing the company’s short- and long-term leasing/re-merchandising strategies.

Before his tenure with Simon, Gorelick spent over eight years with Ralph Lauren, where he held various positions including Senior Director, Real Estate Europe, based in London; and Senior Director, Real Estate U.S. & Canada based in New York. His prior retail experience includes roles at Andrew Buckler, Diesel USA, and Buz Jones in New York; and Liz Claiborne in Los Angeles.

“It’s an honor to join Cushman & Wakefield which I view as the best-in-class provider in the business. I’m looking forward to leveraging my retail experience and am excited to identify ways to generate additional opportunities for Cushman & Wakefield’s client-centric retail platform and the firm’s robust logistics, global occupier services, valuation and advisory, asset services, and research teams. It is a privilege to lead the firm’s Retail platform for the Americas during this exciting time in the evolution of retail and the consumer experience.”

Gorelick is an active member of International Council of Shopping Centers (ICSC) and a licensed New York Real Estate salesperson. He holds a Bachelor of Arts in Business Management/Corporate Communication from DePaul University. He will be based in New York City.

MEMBERS OF THE MEDIA: Please use the contact info above to arrange interviews with David Gorelick.

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.comwww.cushmanwakefield.com or follow @CushWakeon Twitter.

 

Former Potbelly Real Estate Leader Moves To Cushman & Wakefield

{Source: By  / Crain’s Chicago Business}

Tracey Fitzgerald

Tracey Fitzgerald

The real estate executive who oversaw sandwich chain Potbelly’s rapid national expansion in recent years has been hired by Cushman & Wakefield, where she’ll focus on helping landlords sign new tenants.

Tracey Fitzgerald has joined the Chicago-based commercial real estate brokerage as a senior director. Fitzgerald said she will be on a small team of brokers representing owners of about 7 million square feet of retail property in the area.

She’s switching sides on dealmaking, after representing a fast-growing tenant in Potbelly. Her move comes as many traditional retailers scale back store counts, and as other sectors, such as fast-casual restaurants, gobble up new spaces.

“I’m able to offer landlords the perspective from a national, publicly traded company, as far as having an eye for what’s important to retailers and understanding which brands will continue to need bricks-and-mortar stores,” Fitzgerald said. “There’s only a small group of brokers who focus on the landlord side of the business, so it’s a great niche. I think we can more than double the size of the portfolio.”

 

{Source: By  / Crain’s Chicago Business}

Tesla Opening Showroom Near Mag Mile

{Source: Crain’s Chicago Business / www.chicagobusiness.com}

Electric-car maker Tesla is plugging into a new retail space near the Magnificent Mile, about a year after a Michigan Avenue deal fell apart.

Tesla Motors has a deal to open an approximately 5,000-square-foot showroom in the 900 North Michigan Shops, according to people familiar with the deal.

The Gold Coast space on the Rush Street side of the mall is just north of 800 N. Michigan Ave., where the electric-car company late last year was working on a deal for a 10,000-square-foot showroom…READ MORE

900 North Michigan Shops To Get Food Hall

{Source: Crain’s Chicago Business / www.chicagobusiness.com}

The owner of the 900 North Michigan Shops mall is talking with restaurant groups as it looks to create a food hall, a concept that has taken off in Chicago and other large cities.

JMB Realty, the Chicago-based owner of the six-level shopping mall, is in preliminary stages of planning the food hall, 900 North Michigan Shops spokeswoman Stacy Kolios said. “We think it’s a great fit for us,” Kolios said. “We’re looking for the right partner to make it happen.”…READ MORE

Cushman & Wakefield Picks Wacker Drive Tower For New HQ

{Source: Crain’s Chicago Business / www.chicagobusiness.com}

Just over a year after announcing Chicago as its new global headquarters, Cushman & Wakefield has chosen a long-term home: the top four floors of a Wacker Drive office tower.

The commercial real estate brokerage signed an 12-year lease for 83,033 square feet in the 31-story tower at 225 W. Wacker Drive, the firm said. After the move sometime around April, that space will be the company’s Chicago office and its headquarters.

The deal will consolidate workers from two other Wacker Drive buildings. Cushman & Wakefield has about 97,000 square feet combined at 200 S. Wacker and 77 W. Wacker, where DTZ was based before it merged with then New York-based Cushman & Wakefield in a $2 billion deal completed in September 2015…READ MORE

 

PHOTOS: 4th Annual Cushman & Wakefield Chicago Retail Team Client Event

How Retailers Are Appealing To Young People

{Source: globest.com / www.globest.com}

LAS VEGAS—Whether using iPads to assist with customization to providing the option to order online with in-store pickup and returns, retailers are finding ways to appeal to millennials, say Cushman & Wakefield directors from across the country in this EXCLUSIVE Q&A on the subject below,  we asked one simple question: How are retailers in your market appealing to young people? The answers might surprise you.

Michael O’Neill, senior director in New York City: By incorporating technology to create a more efficient, simpler, and more modern shopping experience.  Interactive screens coupled with utilization of iPads and other mobile devices is becoming commonplace for shoppers today. Technology is relevant to the in-store experience but arguably more as a means to attract customers and build brand awareness. The majority of the retailers resonating with today’s youth are on the cutting edge of social media trends and have created highly visible digital profiles.

Danny Jacobson, senior director in Chicago: I think retailers are changing everything, not just to appeal to the younger population but to populations of all ages.  Retailers know they need to give their customers more of an experience within their space so the stores are more than just a place to buy their goods.  With the growth of e-commerce, providing the customer with a physical experience within the space is becoming so much more important than ever before.

Matthew Fainchtein, senior director, and Carter Magnin, associate, both in Los Angeles: Brands are appealing to millennials by incorporating technology into the shopping experience. This ranges from using iPads to assist with customization to providing the option to order online with in-store pickup and returns. Many brands are expanding their marketing by aligning themselves with specific lifestyle activities and sponsoring things like musical tours and cultural events. They’re now positioning themselves to sell a lifestyle—not just merchandise.

Continue Reading at: www.globest.com

Versace Returns To Chicago; Brand Opens New Store In The Windy City

{Source: Fashion Times / www.fashiontimes.com}

Italian luxury label Versace just opened a two-story, 4,951-square-foot flagship at 933 North Rush Street in Chicago. Back in 2000, the brand shuttered its only store in the windy city.

“We took a hiatus [from Chicago] because, frankly, we wanted to do some work on the brand. As sometimes happens in luxury, we had overextended and our product was too widely available,” Versace’s chief executive officer Gian Giacomo Ferraris told WWD.

“We consolidated — we closed some doors, we developed a new strategic growth plan, we focused on accessories and a few other things. And now we have just completed five straight years of double-digit growth. It’s time to return to Chicago, to show the evolution and growth of the brand to this great city and clientele. We feel that North Rush Street reflects the present luxury customer balancing both the cosmopolitan and local spirit,” Ferraris said.

There are currently 21 Versace stores in the U.S., including Chicago.

Dior also plans to open a women’s boutique next door to Versace’s new store on Chicago’s Rush Street sometime this year, WWD reported.

Last week, Versace also reported strong 2015 results. Its revenues for 2015 have grown by 17.5 percent to $709.5 million. The brand plans to open more stores and also expand its e-commerce.

“Versace had an outstanding year in 2015, showing resilience in the face of a tough environment for the global luxury industry,” Ferraris said in a statement, according to Luxury Daily. “Under the creative leadership of Ms. Donatella Versace, we have a unique point of view in fashion, a high quality product and growing engagement with the new generations. In the past 12 months Ms. Versace and her formidable creative team have continued to strengthen Versace’s fashion language, and to infuse the brand with relevance to today’s luxury consumers.”

{Source: Fashion Times / www.fashiontimes.com}

Just Salad Opens Trendy NY Chain’s First Midwest Location

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{source: Eater / chicago.eater.com}

It’ll serve more than just salad.

Is salad the next trendy food concept? If so, Just Salad hopes its getting in on the ground floor in Chicago, as its opening its first domestic location outside the New York City area tomorrow on the ground floor of 20 E. Jackson St in the Loop. The expanding fast-casual salad chain operates 19 locations in New York City plus spots in New Jersey, Hong Kong, and the United Arab Emirates.

The basis of the food concept revolves around an array of healthy salad options that can also be made into wraps: 15 salads live on the main menu in addition to a seasonal menu, soups, and a smoothie bar. The chain champions its use of local in-season produce, affordability and nutritional transparency, as the vast majority of dishes are under 500 calories before adding dressings. The Chicago-specific seasonal menu, which you can read below, includes the “Windy City Kicker” (romaine, hot Italian pork sausage, giardiniera, parmesan, green peppers, celery, red onion).

{source: Eater / chicago.eater.com}

What Donatella Has to Say About the Future of Versace

{Source: Michigan Avenue Magazine /michiganavemag.com}

The mainstay of modern Italian fashion toasts an American future with a new Chicago boutique.

When Chicago’s first Versace boutique opened on Oak Street in 1986, it was the Milanese luxury brand’s largest location in the world. Thirty years later, Versace makes a Midwest comeback with a dazzling, just-opened 5,000-square-foot space at Rush and Walton.

“I’m obsessed with the future,” says contemporary fashion queen Donatella Versace, who oversees the entirety of the brand’s incarnations in her role as artistic director, from ready-to-wear to advertising campaigns to Versace-branded hotels. “I’m not interested in what has been, but what is about to happen. To me, the past is boring.”

Versace’s Spring/Summer 2016 women’s ready-to-wear collection is—characteristically—anything but. Military-style jackets are cinched at the waist and worn as micro-minis, bold prints of leopard and zebra are pieced together like patchwork, and elements of delicate raw edges and lace add a soft finish to more-structured pieces. And while Versace is known for its barely-there styles, there are plenty of options for transitional Chicago weather, including chic suiting in an array of patterns and colors and playful sportswear separates. Slick interpretations of the classic Palazzo bag, in shades of black, olive, and crimson, as well as platform shoes, add the perfect finishing touches.

Supporting the collection is a new Spring/Summer 2016 ad campaign shot by fashion photographer Steven Klein and conceived by Versace, who says she was inspired by the concepts of empowerment and individuality. Featuring models Gigi Hadid, Raquel Zimmerman, and Natasha Poly in the foreground, with martial-arts expert Lukasz Grabowski gazing from the distance, the campaign was shot on the stark white salt flats of California’s Death Valley.

“This is the Versace woman today, an individual who is proud of her own character,” says Versace of the striking images. As for the Versace woman of tomorrow? Without a doubt, the 60-year-old designer— who took over the house’s creative duties from her late brother Gianni, the company’s founder, in 1997—already has a clear idea of where she’s headed.

“Versace is more than just a brand to me. It is family, and its DNA and traditions are in my blood,” she says. “What interests me is taking those traditions and pushing them forward into the future.” 935 N. Rush St., 312-445-9750

{Source: Michigan Avenue Magazine /michiganavemag.com}