-- Boutique real estate firm 'played an integral role in helping tenants cope with the challenges of the COVID-19 pandemic,' says CRE publication.
MELVILLE, N.Y., May 20, 2021 /PRNewswire/ -- GlobeSt. Real Estate Forum named A&G Real Estate Partners to its annual list of retail real estate influencers, citing the firm's success in saving American tenants $1.8 billion in occupancy costs and helping them stave off thousands of store closures last year.
A&G—which works across multiple real estate sectors—was one of just seven recipients in the Company category of this year's influencers list from the online and print CRE publication, which also honored Individuals and Teams for their contributions to retail real estate.
As noted by GlobeSt Real Estate Forum, A&G "played an integral role in helping tenants cope with the challenges of the COVID-19 pandemic." The work included handling negotiations on 13,600 leases on behalf of 61 tenants nationwide—including retailers, restaurants, supermarkets, fitness and entertainment concepts and personal services companies—in 2020.
Through those efforts, A&G negotiated lower rents on 10,450 leases and secured termination agreements on 950. This transaction activity "had a huge impact for tenants," the editors observed.
A&G Co-President Andy Graiser said he was delighted to see the approximately 35 executives, staff members and consultants at A&G receive recognition for their contributions during one of retail real estate's biggest crises. "Our dedicated teams worked nights and weekends throughout 2020 to achieve these results on behalf of our clients," he noted. "I am extremely proud of them and the good work they're continuing to do to help the industry adapt."
In addition, the CRE industry magazine and news website cited A&G's work on behalf of American businesses prior to the pandemic. As noted by A&G Co-President Emilio Amendola, the industry has been going through a dramatic transition as a result of factors such as the rise of e-commerce and continuing shifts in patterns of consumer spending and traffic.
"That has really created an urgent need for many retailers to restructure leases, dispose excess assets, relocate or resize stores, and execute on other strategies geared toward optimizing real estate performance," he said. "Our teams have been there for them every step of the way."
Since 2018, GlobeSt Real Estate Forum noted, A&G has renegotiated 18,750 leases for 110 clients, saving a total of $2.8 billion in occupancy costs. "This included managing major reorganizations on behalf of tenants," the editors observed. "One example is reducing occupancy costs for 2,700 stores for Mattress Firm as part of a Chapter 11 filing."
GlobeSt.com also acknowledged A&G's efforts to educate retail real estate executives and professionals in the insolvency, turnaround and financial services industries through its appearance on numerous industry association panels.
To read the A&G profile, visit: https://www.agrep.com/who-we-are/news/ag-named-globest-real-estate-forum-retail-influencer
About A&G Real Estate Partners
A&G is a team of seasoned commercial real estate professionals and subject matter experts that delivers strategies designed to yield the highest possible value for clients' real estate. Key areas of expertise include occupancy cost reductions, lease terminations, dispositions, real estate sales, real estate due diligence, valuations, acquisitions, and facilitation of growth opportunities. Utilizing its marketing knowledge, reputation and advanced technology, A&G has advised the nation's most prominent retailers and corporations in both healthy and distressed situations. The firm's team has achieved rent-reduction and occupancy-cost savings approaching $8 billion on behalf of clients in every real estate sector, while selling more than $12 billion of non-core properties and leases. Founded in 2012, A&G is headquartered in Melville, N.Y. For more information, please visit: http://www.agrep.com/
NOTE TO MEDIA: A&G Executives are available as resources for your coverage of real estate issues in the retailing, restaurant/hospitality, warehouse/industrial, office, multifamily housing, education, and healthcare sectors.
SOURCE A&G Real Estate Partners