By Joshua Burd
The Goldstein Group has launched a new division to offer retail leasing and advisory services to urban mixed-use property owners, developers and managers in the region.
Chuck Lanyard, president of the Paramus-based retail brokerage, unveiled the new TGG Urban division on Monday while also announcing that industry veteran Scott I. Edlitz will head up the unit. The assignment expands on Edlitz’s current role as senior vice president, brokerage operations, of The Goldstein Group.
TGG Urban will focus on retail leasing, marketing and management operations for retail properties in what the firm said were key northern New Jersey areas — including Jersey City, Hoboken, Newark and Montclair — as well as the New York City boroughs. The Goldstein Group added that the new full-service division will draw on its 35-year experience with freestanding commercial buildings and shopping centers, as well as central business districts and mixed-use projects.
“In bringing Scott aboard, we’re launching TGG Urban with a seasoned and talented real estate professional who has worked with high-profile developers, owners and retailers in prominent urban markets for nearly two decades,” Lanyard said. “He brings the ideal skill set, market knowledge and innovative thinking required to lead the new division and its brokerage services.”
Prior to joining TGG Urban, Edlitz was a senior managing director with Colliers International, according to a news release. He has worked with property owners including Manhattan Skyline Management, AEW Capital Management, Somerset Development, The Atlantic Development Group and The Beechwood Organization.
Edlitz has also worked on buildings such as The Hudson Hotel, 140 West 57th St., 205 East 59th St. and Bell Works.
“The appeal of residing in walkable, urban live/play centers continues to grow,” Edlitz said. “Developers have responded in kind by creating multifamily buildings with supportive street-level retail space that provide community services, shopping, restaurants and leisure entertainment.
“Shaping the ideal neighborhood and resident experience is about more than just filling space. The challenge is determining the most appropriate use and attracting the right tenant mix for each location. We’ll work with clients throughout the process, using our expertise and broad network of contacts to achieve that goal.”
Lanyard added that The Goldstein Group has benefited throughout its history from “an ability to grow and adapt to the ever-changing retail landscape.”
“The formation of TGG Urban is meeting that need,” Lanyard said. “The movement towards city living has created a robust commercial market in urban centers of the New Jersey Gold Coast, which include Hoboken and Jersey City. Retailers ranging from large national brands to regional chains are showing an increased appetite to establish a foothold in these highly populated areas. “TGG Urban will enable us to bring together our urban development and retail clients together to effectively serve this marketplace.”