Real estate investment, management and development firm RFR Realty LLC announced its enhanced focus on retail through a new division, RFR Retail.
The division will continue what has been a growing focus on retail at the firm, as evidenced by recent acquisitions and leasing deals.
RFR Retail is headed by Jordan Claffey, who was hired as its vice president and director of retail leasing last spring.
“Since Jordan joined, and with his leadership, we’ve enhanced the retail components of both the RFR website and RFRSpace.com, which lists current availabilities. We’ve also enhanced our direct and electronic marketing campaign,” said RFR’s Sheldon Werdiger.
“These efforts have vastly improved the visibility of our retail portfolio. By increasing RFR’s in-house marketing support and focusing on direct tenant relationships, we are well-positioned to service our retail assets.”
In addition to the revamped marketing campaigns, RFR also this year had its first ever booth at the ICSC New York National Deal Making Conference, held December 8-9, 2014 at the Jacob K. Javits Convention Center.
RFR’s recent acquisitions all have different, yet equally significant, retail components.
The Church Missions House at 281 Park Avenue South has full retail frontage on sought-after Park Avenue South and offers the potential for a retailer to lease the ground floor retail space and the office space above it as a corporate headquarters.
Then at 190 Bowery, the 4,200 s/f ground level at the corner of the Bowery and Spring Street is a prime location for any retail brand or restaurant. The site offers more than 140 linear square feet of frontage and 18-foot ceiling heights.
In Noho, RFR’s 11 Bond Street is also being repositioned for potential single tenant use, with flagship retail space available across five floors.
In Brooklyn, there are approximately 80,000 s/f of retail associated with RFR and Kushner Cos.’ purchase of five DUMBO neighborhood properties from the Watchtower Bible and Tract Society of New
Elsewhere in the United States, RFR has retail properties in Miami on Lincoln Road and at the W Hotel and in Las Vegas in the Miracle Mile Shops.
It also has significant retail holdings in key German markets, including Frankfurt, Berlin, Hamburg and Nuremberg.
“Over the past several years, retail has been a top performing commercial asset class and this is especially true in Manhattan,” said Claffey.
“Tourism, population and infrastructure continue to improve. New York City is the best market for talent and commerce and is the most attractive global market for retail as well.
It’s an exciting time to be a part of what we are doing at RFR with an emphasis on growing the retail portfolio in New York and other gateway cities such as Miami.”