Cohen of Eastern Consolidated: Tenants right sizing their space

Name: Brad Cohen Title: Senior Director Company/Firm: Eastern Consolidated Year Founded 1981 Years in real estate industry: 10 years Telephone: 646-658-7358 Email: [email protected] URL: http://www,easternconsolidated.com Twitter: easternconsol Facebook: https://www.facebook.com/EasternConsolidatedNYCommercialRealEstate Real Estate Associations/Affiliations: Member of the Young Men's/Women's Real Estate Association of New York (YM/WREA), the International Council of Shopping Centers (ICSC) where he serves on the NextGen planning committee, the Real Estate Board of New York (REBNY). What are your expectations for the ICSC NY conference this year? Looking forward to a change of scenery! We have all been awaiting the first year at Javits and with all of the development going on nearby (Hudson Yards, Manhattan West), it is especially an exciting time. How does your company use social media? Has social media been a beneficial tool in generating more business? Twitter and LinkedIn are especially important to our business. We have brokers and tenants reach out to us because we make our networks aware of what we are up to! What trends are you seeing in leasing? We are beginning to see tenants right sizing their space requirements. For example, the prototypical store for Starbucks is no longer 3,500 s/f, they are shrinking to an average of 1,200-1,500 s/f, banks are no longer taking 5,000 s/f, their footprint is 2,000 s/f.