2016 Year in Review: Steven Soutendijk, Cushman & Wakefield

Name & Title:  Steven Soutendijk, Executive Managing Director

Company Name:  Cushman & Wakefield

What was your most notable project, deal, transaction or professional achievement in 2016?

The completion of a 56,000 s/f flagship lease with Under Armour at the General Motors Building (767 Fifth Ave.). I expect, given the prominence of the location and the quality of the physical space, that when they open in 2019 the Under Armour Fifth Ave. flagship will be one of the most impressive stores in the world.

What project, transaction, market trend or product had the greatest impact on your industry this year?

The general disruption in the retail marketplace has given both retailers and landlords a slight pause. Velocity and rents have decreased and everyone is starting to adjust to new realities.

How will you be supercharging your productivity in 2017? 

Cushman & Wakefield continues to adopt new technologies to make us more productive for the firm and for our clients. Whether it’s an electronic, cloud-based agency reporting system like VTS/Hightower, or a sales-based CRM like Salesforce, the way we as brokers use technology both in our office and on our mobile devices will determine our productivity for 2017 and the years going forward.

What emerging trends will drive investment and development in 2017? 

Large-scale retail development in Manhattan, like the upcoming Hudson Yards project and Brookfield’s Manhattan West, will have food and beverage offerings as a central component to creating critical mass. I believe high-quality dining options, across all price points, will persuade savvy shoppers to head out to these developments to spend money, rather than shopping online from their couches.