LAS VEGAS—In anticipation of the upcoming ICSC Las Vegas conference, we caught up with Odyssey Retail Advisors to talk about the retail landscape in three primary markets that the firm is operating within–New York, South Florida, and Chicago.
New York City's Fifth Avenue is witnessing a remarkable recovery, fueled by a surge in U.S. luxury spending, Charlie Koniver, principal, tells GlobeSt.com. This resurgence is not just revitalizing one of the world's most iconic shopping streets but also underscores the enduring allure of luxury retail, he explains.
"Odyssey has been instrumental in reintroducing prestigious brands to this legendary locale, thereby reshaping Manhattan's retail environment into a thriving hub for luxury shopping," Koniver says. "They've handled the recent leases of Dolce & Gabbana at 691-693 Madison Avenue, Chopard and Chanel at 730 Fifth Avenue, Burberry at 693 Fifth Avenue, and Bang & Olufsen at 540 Madison Avenue."
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In South Florida, the real estate market is booming, adds principal Bruce Koniver. The luxury retail segment in particular has experienced exponential growth due to the influx of migration to the area, he says.
"Odyssey's strategic foresight has enabled them to represent notable retailers seeking presence in sought-after neighborhoods such as Coconut Grove, the Miami Design District, Aventura, and Bal Harbour, among others," he tells GlobeSt.com. "Additionally, Odyssey remains highly active in representing luxury brands on Palm Beach Island's prestigious Worth Avenue, further solidifying their impact on upscale shopping destinations."
In Chicago, the retail scene has been robust at prominent shopping destinations like The Shops at Tribune Tower and Oak Street, each offering a unique blend of luxury and charm that caters to the sophisticated shopper, explains Sharon Kahan, Senior Vice President. "The Shops at Tribune Tower, renowned for its historic architectural grandeur, is currently undergoing transformation into an elevated shopping haven, attracting a mixture of local and international brands that appeal to both tourists and city dwellers alike," says Kahan. "Nearby, Oak Street serves as a luxurious enclave within the Gold Coast neighborhood, lined with exclusive boutiques and renowned designer stores including Cartier, Balenciaga, Montblanc and more."
Check out related retail stories below that you might have missed and stay tuned for more trend coverage from other retail experts we spoke with as the ICSC approaches.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
