Robert K. Futterman & Associates, LLC

Real Estate Weekly, Jan 12, 2000

As the New York Metropolitan area continues to experience a surge of new construction throughout the region, one firm is among the leaders in leasing the new retail space being built - Robert K. Futterman & Associates, LLC (RKF). These projects encompass both new construction and renovation developments in Manhattan, the New York suburbs, Connecticut and New Jersey.

"The retail market is exploding and RKF is leading the surge in new construction throughout the New York Metropolitan area," said Robert K. Futterman, CEO. "With vacancies at historically low levels and the market remaining extremely hot in all sectors, we expect this wave of new construction to be fully absorbed very expeditiously. RKF is the top choice for developers and investors who are capitalizing on the strong market conditions and commencing new development."

Presently, RKF is marketing many of the area's signature new developments for such clients as RFR Realty, The Related Companies, Vornado Realty Trnst, Cappelli Enterprises and Forest City Ratner. Highlights include The Palladium at Columbus Centre, 750 Sixth Avenue, 1110 Third Avenue, The Empire at Third Avenue, Brooklyn Commons, The Gateway Retail Center in Brooklyn, the former Caldors locations in Queens and the Bronx and New Roc City in New Rochelle.

Additionally, RKF is exclusively representing nearly 20 national retailers who are aggressively expanding in the region. Such notable retailers as Circuit City Stores, Ashley Stewart, Bailey Banks & Biddle, Bally's Total Fitness, Barnes & Noble, The Bombay Company, Citibank, Dooney & Bourke, House of Blues, Kinko's, Portico Bed & Bath, Virgin Megastores, Wilson's Leather, Wolf Camera, Guess, Casual Comer and Zales are all clients of RKF.

"While rents in some cases have reached all-time highs and other pockets of the area are experiencing a tremendous revitalization, there appears to be no near-term softening of the retail market," Futterman added. "A healthy economy, low unemployment and the emergence of big box development have all been positive factors that are fueling the growth of the retail sector. The New York Metropolitan area is still considered the most desirable retail address in the world and retailers must continue to be aggressive to fight for quality space in this market. Therefore, we are confident that the surge in new development will be quickly absorbed by the market."