requires a deeper
set of skills.
Tenant representation requires the capability to provide certain analytics including demographics data, defining trade areas, creating accurate maps, curating maps for competitive analysis, having rent and sales comparables, providing pedestrian and automobile counts, and knowledge of new development or construction activity nearby that may change the sphere of influence for a particular market or trade area. At Ripco, having 70 people with ears to the ground makes us smarter when it comes to servicing retailers throughout our region—with this collective intelligence we will either know or be able to find these data points out quickly.Learn More
Whether it’s urban or suburban, ground up or existing, high-end or off-price, big box or specialty retail—Ripco has an enviable track record in leasing all these formats throughout NYC and metro NY. Retailers we have placed in properties for owners include Apple, Tesla, Lululemon, Sephora, H&M, Shake Shack, Whole Foods, Trader Joe’s, SoulCycle, The Container Store and Nordstrom Rack, to name a few. We understand how to target specific retailers for a space, get a space out to the market quickly, build a leasing program, create a tenant mix and create marketing materials to help tell a story that will achieve the owners goals.
There are two ways to market a property. The first, to cast a large net and widely market the property to hopefully get multiple bids and the best price while working on closing conditions. Many of the best brokers can do this—Ripco, too.
The second, be smart and truly understand what buyers a specific property is good for and why. Then offer it to that crew of buyers and keep the whole process beneath the radar screen. Be stealth—not many brokers can do that. We can because we have such a commanding local presence. With our four offices covering the entire NYC metro region, we know what is going on around the corner, down the street, or within the neighborhood.
Development & Acquisition
Given Ripco’s ability to lease different types of retail properties, we have begun to develop and acquire properties on our own account. In NYC, we have partnered with Michael Berfield to form Bridges Development in order to develop retail properties throughout NYC. In the suburbs, we have partnered with numerous people and property owners to create win-win successes where we use our leasing skills and market knowledge to create value for our partners and Ripco alike.
A logical extension of working with retail properties since 1991 is to manage them on behalf of institutions and local owners. Therefore, Ripco has gone into the management business.
To get off the ground running, we have launched Metro Ripco Management Corporation. This is a partnership we formed with MetroCenters, a well established management company that oversees 16 multi-tenant retail properties and has a deep understanding of all aspects of management, development and the local municipal process when approvals are necessary for building permits, repairs and perhaps expansions. Our expectation is we will now be able to provide property owners with both superior leasing and management expertise from one organization—one stop “shopping” if you will.
Medical Real Estate
It is clear the medical community sees the opportunity retail properties create for their business. The branding and signage, parking lots and and overall convenience to the customer are highly invaluable assets. We have completed deals for Northwell, ProHealth, Winthrop-University Hospital, Island Eye Surgical Center, City MD and many others as developers, leasing agents, and tenant representatives.
Ripco believes that the medical world is really similar to, if not a form of, the retail world. After all, both are providing services and catering to the public at large. Since medical and retail are so closely connected, we are well-equipped at Ripco to provide advice to both owners and medical institutions when it comes to retail real estate.
Consulting—is defined as the business of giving expert advice to others, typically in financial and business matters.
At Ripco, we are habitually giving advice, so are very comfortable in that position. That’s why when we are called upon to help determine FMV for options, to estimate the market of a particular retail space, to provide development or redevelopment advice, or to assist in a site plan analysis, we are fully capable of providing those services on a fee basis.