Steven B. Greenberg Says Retailers Still Hold Cards When Seeking New Store Locations
Steven B. Greenberg, president of The Greenberg Group, states the retail real estate market for 2011 still presents unique opportunities for retailers due to available space and rents that have yet to rebound.
Speaking as a featured panelist at Telsey Advisory Group’s 3rd Consumer Conference, on March 29, 2011, Mr. Greenberg commented, “Now is still an opportune time for the well-financed retailer to expand and take advantage of great space from store closings and subsequent vacancies. The retail sector is showing signs of sustained growth, so the window on this type of leverage will start to fade.”
Mr. Greenberg said, “Our clients, while still conservative in their expansion plans, have been able to secure very favorable deals that will contribute greatly to their long-term profitability. We are justifiably more focused on the bottom line than ever before — ROI and four-wall contribution are our top priorities.”
He concluded, “Highly accurate sales forecasting is crucial — retailers should know sales of their next new store before they sign the lease. We accomplish this through proprietary sales forecasting models.”
The Greenberg Group (Hewlett, N.Y.) is a leading real estate advisory company that specializes in providing market research and analysis, site selection, and deal negotiation for several of the nation’s premier retailers. You can visit them on the web at www.thegreenberggroup.com.