Keith Loria / Commercial Property Executive – Hoffman Strategy Group and Jeff Green Partners have formed a collaboration to expand both companies’ work on complex, mixed-use feasibility research including retail, residential, office and hotel uses.
“As a national recognized leader in retail real estate feasibility, I bring significant experience in everything from shopping center development and repositioning to retailer expansion and location assessment,” Jeff Green, president of Jeff Green Partners, told Commercial Property Executive. “Combined, our backgrounds and experiences result in this dynamic new strategic partnership that will better provide a comprehensive research approach to the feasibility and planning of mixed-use developments.”
Green’s decades of retail feasibility analysis and deep understanding of consumer trends and market forces dovetails seamlessly with the breadth of Hoffman Strategy Group market insights and thorough expertise on the economics of any location.
“For more than a quarter century, I’ve been exploring, analyzing and reporting on the forces that create communities and define economies—shaping community and regional marketplaces by examining trade patterns, investigating viable markets and providing sound market insights to decision makers,” Jerry Hoffman, president of Hoffman Strategy Group, told CPE. “Coupling my expertise in applying broad economic and market analysis to maximizing a development’s potential with Jeff Green Partners’ expertise in retail real estate feasibility results in this dynamic new strategic partnership with an unmatched ability to evaluate and communicate retail and commercial development opportunities.”
The two have worked on a variety of projects over the past several years all over the nation, including studies for the University of Chicago, development company OliverMcMillan, REIT Equity One, Inc. and the City of Pittsburg, Kansas. Together, the two quickly recognized the shift moving toward mixed-use and away from single-use.
Many professionals in the real estate industry work backwards and piece developments together, and we’re helping to close that gap,” Green said. “We both have an innate understanding of the factors that influence the supply-and-demand equation. With our partnership, we’re able to tap each other’s networks and cultivate new relationships from those.”
According to Hoffman, at a time when more and more developers, municipalities and universities are looking at development projects holistically, rather than looking at feasibility as isolated for retail, residential, hotel and office space, the expertise each company brings to the table is more valuable than ever.
“There are fewer major ‘single-use’ projects any more, driving the need for a new, integrated level of feasibility,” he said. “Our partnership is optimizing our combined expertise to pursue new opportunities to expand our consultative practices. We are hoping to work more with entrepreneurial mixed-use developers seeking unique, targeted tenants such as chef-driven restaurant concepts, boutiques, as well as office, multi-family and hospitality developers.”
According to Green, the collaborative partnership is deepening the research capabilities and allowing both to focus on fully integrated mixed-use project feasibility.
“With this new approach, we are hoping it translates into working with more entrepreneurial mixed-use developers seeking unique tenants such as chef-driven restaurant concepts, boutiques, as well as office, multi-family and hospitality developers,” he concluded. “We’re giving clients the tools they need to make the right decisions and to literally and figuratively build on their successes.”