Related Companies forms new division

Real Estate Weekly, May 21, 2003

The Related Companies, one of the nation's leading developers, managers and owners of residential and commercial properties announced the formation of a new division to specialize in services to retail and mixed use commercial projects.

The new division will be called Related Retail Advisors and will offer its services nationwide, said Kenneth A. Himmel of The Related Companies.

The new division will operate under the direction of Mitchell Friedel who will serve as executive vice president of Related Retail Advisors. Friedel has been senior vice president of The Related Companies responsible for retail leasing for the nationally acclaimed CityPlace development in West Palm Beach, Florida, and the new landmark mixed use project currently nearing completion in New York City, AOL Time Warner Center.

The retail component of the New York City development, known as The Shops at Columbus Circle is over 90% leased months in advance of opening in the fall. Warren K. Dauber will join Related Retail Advisors as a vice president. He is currently with The Related Companies.

Related Retail Advisors will offer leasing, consulting, program and planning services to developers, owners and managers of retail and commercial properties throughout the country.

The Soffer Organization, a Pittsburgh based developer, is the first to retain the services of the new division, announced R. Damian Soffer, president and CEO of The Soffer Organization. Their reputation and history of success with mixed-use developments throughout the country is truly a perfect match for our urban lifestyle vision," said Soffer.

"We are delighted that the Soffer Organization has chosen Related Retail Advisors to work with them on SouthSide Works. We are extremely confident that the combination of the SouthSide Works' dynamic riverfront location, overall project quality, and our mutual efforts will lead to an outstanding and successful retail and mixed use development that will benefit the entire region," said Mitchell N. Friedel, executive vice president, Related Retail Advisors.