Eastern Consolidated's retail sales group to participate in ICSC New York, to distribute "The Retail Pulse"

Heightening its focus and commitment to retail investment sales, leading real estate investment sales firm Eastern Consolidated revealed it will have a booth at this year's International Council of Shopping Centers (ICSC) bi-annual convention. "Eastern has always had strong retail focus, but given the new demands of the marketplace, we are now offering an additional level of service for our clients," said Daun Paris, president of Eastern Consolidated. Based at Booth 563 at the Sheraton the week of the ICSC, Eastern will be distributing "The Retail Pulse," authored by Eastern chief economist Barbara Byrne Denham, one of the most comprehensive N.Y.C. retail reports compiled to date. The 16-page in-depth research report makes a case for why retail investment has become the flavor of the day and how retail sales could forecast a bright economic future for the city. In September, Eastern Consolidated launched a new retail sales group in response to recent retail development throughout the city's five boroughs. Senior director Adelaide Polsinelli, who heads the group, and her colleagues have transacted $300 million in retail sales this year. In addition to operating a prominent booth at the ICSC, Eastern Consolidated will be holding a cocktail a party for clients at the Gansevoort Hotel on the evening of December 3rd. According to Polsinelli, "There are multiple reasons why retail investments feature so prominently on investors' radar. For one, the City is under-retailed, especially the outer boroughs, so demand for more retail will certainly continue to grow, in direct proportion to the increase in new residential development. Retail condominiums are attractive vehicles for users to own, enabling them to take control of their own space. Plus, they are relatively easy to finance and serve as good 1031 exchanges. And then there is the distressed arena offering unprecedented opportunities for investors to acquire properties, which although encumbered by debt, can emerge as strong assets accruing value over time, once they are financially restructured." Founded in 1981, Eastern Consolidated is one of the country's preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers. ###