Prominent landlord and tenant retail broker joins as Principal to grow Avison Young's NYC retail platform
TORONTO, May 16, 2014 /CNW/ - Mark E. Rose, Chair and CEO of Avison Young, the world's fastest-growing commercial real estate services firm, announced today that prominent retail real estate specialist Jedd Nero has joined the firm to expand its business-line coverage in New York City.
Effective immediately, Nero becomes a Principal and Executive Managing Director, New York City Retail Services, based in Avison Young's Manhattan office. In his new role, Nero will work closely with Avison Young's executive leadership and Tri-State President Arthur Mirante to grow the firm's retail services platform in New York City, including recruiting top retail real estate specialists. He will also represent landlords and retailers in all aspects of their retail space needs. With more than 25 years of retail real estate experience, Nero was most recently an Executive Vice-President at CBRE in New York City.
"We are delighted to welcome Jedd to our New York City office and see this as a critical step in building a world-class retail services platform," comments Rose. "As part of our larger strategy to differentiate our brand and provide our clients with fully integrated services across all disciplines, we will continue to strengthen our presence in key markets throughout the U.S. and abroad with strategic recruitment of the industry's top professionals."
States Mirante: "The local market knowledge and depth of client experiences and relationships that Jedd brings to Avison Young, combined with the company's innovative client-service model, will significantly impact our presence not only in the Tri-State market, but throughout the country. Our ability to attract this caliber of talent is a true testament to the exceptional and thriving culture that we have established."
Highly regarded as one of the top retail real estate professionals in the industry, Nero has managed the real estate requirements for a number of national and international retailers, including Hugo Boss USA, Kenneth Cole, Volkswagen/Audi and JP Morgan Chase.
Nero has been especially influential in shaping the retail landscape of Fifth Avenue, where he most recently represented Western Management at 589 Fifth Avenue in the signing of a milestone deal with H&M for 57,000 square feet (sf). This complex transaction created the largest H&M store in the world to date at that time, providing H&M with six floors of retail space. He also successfully secured space for auto giant Chrysler, recently completing a 110,000-sf deal in which he placed the company at 629-641 West 54th Street.
In addition to tenant representation, Nero has served as leasing agent for numerous prominent property owners, including Silverstein Properties, Muss Development, Western Management, The Moinian Group, Mitsui Fudosan, Douglaston Development, Gallery Partners, The Statuto Group and Starwood.
"I am very excited to leverage my deep industry experience at Avison Young, and will aim to build upon the foundation of success that has set the firm apart in the industry," states Nero. "The firm's Principal-led, collaborative culture provides the unique structure to deliver superior client service, contributing to its reputation as a global market leader. I look forward to continuing my career at Avison Young and assisting the firm in expanding its service capabilities in the retail sector."
"Jedd's proven track record and experience align perfectly with our culture, which continues to be a differentiator for us," adds Earl Webb, Avison Young's President, U.S. Operations. "Bringing Jedd on board will allow us to elevate our Tri-State market presence and create regional synergies in servicing the needs of our client base, as well as offer us the opportunity to build our retail group in one of the world's foremost retail markets."
Jedd Nero is widely regarded as one of the top retail real estate professionals in the industry. For more than 25 years, he has worked to complete retail transactions in New York City and throughout the U.S. for both tenants and landlords. In years past, Nero has had success placing Hugo Boss, Morellato and Sector, Lenscrafters, Kenneth Cole and Best Buy on Fifth Avenue as well.
On the tenant representation side, Nero's business includes multiple local and national transactions for Diesel, Miss Sixty, Salvatore Ferragamo, Fila and Verizon Wireless. He has extensive experience in securing flagship stores for tenants including Paul and Shark and Missoni along Madison Avenue's "Gold Coast", Kenneth Cole at Rockefeller Center and Hugo Boss.
He also represented Volkswagen Group of America, Inc. in the purchase of a 265,000-sf building on Eleventh Avenue between 55th and 56th Streets. The space, purchased for $84 million, has undergone a $41-million renovation and serves as the flagship Manhattan showrooms for Audi and Volkswagen.
Prior to joining Avison Young, Nero was Executive Vice-President with the Global Retail Services Group at CBRE in New York City. Prior to CBRE, Nero was Executive Vice-President with Newmark New Spectrum Retail, LLC, where he formed the company's retail services division in 1995.
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,500 real estate professionals in 57 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
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SOURCE: Avison Young Commercial Real Estate (BC)
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