The 57-year-old privately held commercial advisory firm Studley entered the lucrative Manhattan retail leasing market for the first time, tapping Patrick Breslin, an executive in Grubb & Ellis' retail operations, to lead the new East Coast division, the company announced this morning.
Michael Colacino, president of Studley, said the firm is adding retail in New York City because it believed it could profit by providing additional services to existing clients that have retail operations as well as earn relatively high commissions paid on retail deals.
This is not the first retail operation for Studley, which has store-leasing agents in Los Angeles, Washington and Chicago, but it is seeking to create a cohesive operation throughout the country.
"We are trying to knit this together into a national retail practice, with a tenant focus," he said. The idea is "to take the high-profile retail brands that we do office work for and find if there is a way we can service them in this sector as well." ...
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