As more commerce shifts to the Internet, the physical retailers that are finding success are the ones that provide experiences that can’t be replicated in a digital space.
Since no one has figured out how to stream meals or download cocktails, bars and restaurants remain relatively safe bets for landlords.
To better serve this thriving market segment, Cushman & Wakefield has acquired Colicchio Consulting, a specialty brokerage that focuses on food, beverage and entertainment transactions.
The firm’s co-founders, Phil Colicchio and Trip Schneck, will now lead lead Cushman & Wakefield procurement in this space through Cushman & Wakefield’s Retail Services platform.
Along with food and beverage, Colicchio and Schneck have been at the forefront of the experiential shopping center and food hall movements. They’ve keyed in on mixed-use developments, sports and music venues, universities and partnered with 75 top-tier hotels. They’ve also worked with dozens of award-winning chefs, restaurateurs and service professionals.
At Cushman & Wakefield, the pair will guide clients in the strategic evaluation, selection and engagement of elevated food, beverage and entertainment options for projects ranging from food halls to signature restaurants and performance spaces. They will also assist hotel developers and operators in creating specialty concepts that improve and reposition unique properties.
“There’s no question about it: retail is evolving,” Katie Mahon, head of Cushman & Wakefield’s Americas Retail Services, said. “Today’s consumers clearly favor curated, locals-only experiences, and Cushman & Wakefield’s acquisition of Phil and Trip’s unique credentials underscores our unwavering commitment to meet that growing demand.”