Melville, N.Y. — A&G Real Estate Partners has negotiated lower costs on 9,550 retail leases in 2020, bringing the company’s success rate to 77 percent. The company reports its success rate for negotiations on behalf of retail tenants is typically 50 percent. The majority of the talks have taken place since March 1, according to the Melville-based advisory firm. Since that time, A&G has secured terminations on 950 leases. The company has achieved nearly $1.7 billion in occupancy cost reductions for 51 retailers, restaurants, educational users, office tenants and fitness and entertainment operators.
A&G’s clients over the past nine months have included Chico’s, Cinépolis, Ascena Retail Group, Rue 21, Tuesday Morning, GNC, Guitar Center, DSW, Francesca’s, Tailored Brands, NPC International, Pier 1 Imports, Stage Stores, Sur La Table, Cadence Education and Sequential Brands.
“The pandemic tested both our core teams as well as our consultants. They have all worked seven days a week since the virus hit to catalyze real estate strategies for our clients, whether right-sizing their operations or reorganizing under Chapter 11,” says Andy Graiser, A&G co-president. “It’s an ongoing task that has far exceeded anything we could have imagined.”