Frischman of EVO: Goal to promote EVO's retail capabilities

Name: Robert Frischman Title: Executive Vice President Company/Firm: EVO Real Estate Group Year Founded 1969 Years in real estate industry: 25 Telephone: 212 5192039 Email: [email protected] URL: www.evo-re.com Real Estate Associations/Affiliations: REBNY, ICSC, NAI Global What are your expectations for the ICSC NY conference this year? This year's ICSC follows the first full year I've been at EVO, and EVO is now the Manhattan representative of NAI Global. My goal is to promote EVO's retail capabilities, meet with NAI Global member companies and to continue our work with the retailers and landlords active in New York. Are investors finding the types of properties that they want right now? Are tenants happy with the sites available to them? Motivated investors are finding what they're looking for at prices they're prepared to pay. There is plenty of inventory available to both investors and tenants and both markets are very active. In the current economic climate what kinds of deals are out there and who is the typical buyer? There is nothing "typical" in any market. Buyers range from foreigners (sovereign funds and the like) to seasoned long established families as well as the up-and-coming young guns finding eager equity partners to fund acquisitions. How does your company use social media? Has social media been a beneficial tool in generating more business? We've been ramping up our social media platform, so we expect that it will yield dividends in the near future. Our affiliation with NAI Global will be instrumental in an immediate expansion of our reach both nationally and globally. It is a very exciting development for the firm. Which segments of the retail market are delivering highest returns for investors? It's hard to generalize, because returns have to be assessed on a case-by-case basis. But there is still glamour in the flagship locations at prime world-class addresses, such as 57th Street, Madison Avenue, and Fifth Avenue. They may not provide the cap rates the typical investor seeks, but the savvy groups always seem to find ways to make it work. Other less glamorous areas i.e., Harlem, Queens, etc. provide greater upside potential, albeit with longer time frames. What trends are you seeing in leasing? Some of the new media industries are starting to open bricks and mortar storefronts. StubHub! on 40th Street is a good example. I will not be surprised to see some of the big social media companies grab a glitzy Times Square site for studios, interactive billboards, etc. What challenges can the retail market in New York anticipate in 2015? The major challenge is internet retailing. It is a challenge to pay rent for bricks and mortar stores when consumers are becoming increasingly comfortable shopping online. But there is, and always will be, significant segment of retailers that aren't e-tailers. Local retailers; supermarkets such as Fairway, Traders and Whole Foods; bars; restaurants, and local services are examples.