In the realm of commercial real estate, companies focused singularly on tenant representation have not been a part of the story for very long.
According to David Solomon, president and CEO of NAI ReStore, a full-service firm dedicated to retailers and retail property owners with national and global real estate needs, his experience with one of the first tenant rep firms in the 1980s lead him to believe that it was a specialized service that could offer great benefits to retailers.
With a career spanning retail and real estate endeavors, Solomon has had a wealth of experience dealing with retailers across the world, including an ownership interest in the Toys “R” Us franchise in Israel and an Israel-based retail concept that he imported to the United States and sold to McDonald’s approximately 2 years ago.
Upon the disposition of the retail concept to McDonald’s, Solomon began his newest endeavor, NAI ReStore. The company, a joint venture with NAI Global, a real estate firm with more than 8,000 employees in 375 offices in 55 countries, focuses on cross-border retail services, acquisitions/ dispositions and market analytics. The company uses a unique mix of GIS analytics and NAI’s widespread pool of local professionals to provide in-depth demographic and market data to retailers looking to expand, relocate or close stores in the 65 countries across the globe. Solomon was particularly drawn to NAI’s network of offices in secondary markets across the United States and other countries. The access to local brokerage professionals in smaller markets has increased ReStore’s ability to handle dispositions and site selection efforts within markets in which many global real estate firms are not located. “We wanted to create a way for retail chains to expand, dispose of property — basically, manage their real estate portfolio — and get maximum value out of their assets more efficiently across city, state or national borders,” Solomon explains. Since forming, ReStore has assisted retailers such as IKEA......
www.nairestore.com NAI ReStore is a one-stop shop for retailers and retail property owners with multi-faceted global real estate needs. We enable our clients to maximize the value of their most important asset—their real estate—by delivering the most comprehensive, cost-effective and fully integrated real estate solutions. We work closely with clients to increase their speed and efficiency in the acquisition, leasing and sale of retail properties.