Cross-Border Collaboration Scores Key Retail Win - Cushman & Wakefield

Cross-Border Collaboration Scores Key Retail Win

C&W has been awarded the retail listing assignment for 100 Bloor Street West – the largest block of available space on Toronto’s “Mink Mile” shopping district in 20 years.

C&W’s seasoned retail team of Arlin Markowitz, Vice President, based in Toronto, and Gene Spiegelman, Vice Chairman, in New York, will lead the assignment. Megan Sauro-Love, a member of C&W's Capital Markets group, was also essential in creating the winning pitch.

Cross-border collaboration between New York and Toronto was key in winning this landmark assignment. Arlin’s relationship with the client began with a cold call in 2010, and grew from there. Gene also had a relationship with the client, having worked with them in the U.S.

Arlin learned of the assignment on a Monday, and by Thursday was in New York with an innovative and unique presentation from C&W’s Marketing team. Out of those invited to pitch, only Arlin took the initiative to fly to New York, while others emailed pitches in. Coupled with Arlin’s local knowledge of the Bloor Street retail market (he has completed the most transactions of any agent on Bloor Street in the past 7 years), the pitch was successful and the client awarded C&W the listing, beating out CBRE and Colliers.

100 Bloor Street West was once home to Toronto’s iconic University Theatre and is currently occupied by Pottery Barn and Williams Sonoma. The site totals 42,000 square feet, with 150 feet of frontage on Canada’s most prestigious shopping street. The sales-per-foot performance on Bloor Street is comparable to world-renowned luxury shopping districts across the globe; however the rental rates are still significantly less, averaging $330 per square foot. Notable tenants of the high-end shopping district include Dolce & Gabbana, Chanel, Prada, Brooks Brothers, Cartier, Louis Vuitton, and Holt Renfrew Mens - opening in September. The property will be available for lease in the first quarter of 2015 when the current tenants vacate.