FEATURE ARTICLE, MARCH 2006

TWENTY YEARS AND COUNTING
The Goldstein Group is celebrating 20 years of success providing retail brokerage services throughout New Jersey.
Lara Fuller

The ability to examine and understand a marketplace, adapt to it and capitalize upon it, is the mark of a successful real estate company. The Goldstein Group has been doing just that for the past 20 years. The Goldstein Group has succeeded in creating the preeminent retail services organization by consistently offering its clients personalized service, the most sophisticated market research and a passion for innovation and out-of-the-box thinking. This approach has enabled The Goldstein Group to be one of the most successful retail real estate brokerage firms in the Tri-State area.

The Beginning

The Goldstein Group, based in Glen Rock, New Jersey, was started in 1986 by brothers, Alan and Neil Goldstein. The young firm originally focused on office, industrial and retail properties but quickly decided to exclusively specialize in retail real estate.

“They were really among the first to exclusively focus on retail real estate,” says Chuck Lanyard, principal and director of brokerage services with The Goldstein Group. “Retail real estate is a lot more dynamic than other sectors and provides a constantly changing landscape. Whether it's helping a landlord in the leasing of a shopping center space or assisting a retailer in opening numerous stores in a region, we have a tremendous track record exceeding our client's expectations. We're consistently ahead of the curve and in front of our clients with innovative ideas.”

Since the beginning, The Goldstein Group has found success by building on a basic idea of providing the necessary information for clients to make better business decisions. By focusing exclusively on retail brokerage, which changes frequently, the company is able to consistently provide its clients with up-to-date market data. The client, whether a landlord or tenant, is then able to properly decide what direction to take. Providing years of expertise to landlords and tenants, The Goldstein Group has been instrumental in shaping much of the retail landscape in Northern and Central New Jersey.

Team Paramus

The importance of extensive market knowledge is evident in the company's approach to business. The Goldstein Group utilizes a team structure, based on a concept known as market teams. “Market teams is a concept that we developed 9 years ago,” says Lanyard. “Paramus, New Jersey, was the first marketplace chosen. We developed a team that became immersed in knowing all the landlords and tenants in the highway corridor. Thus, by keeping in touch, the team was able to know which spaces were available and who was looking for space and who was looking to vacate.”

By working together and sharing information, the team has been able to close more than 60 deals, totaling approximately $150 million of aggregate lease/sales value in the Paramus corridor. The team concept was such a success that the company has used the team model in six other highway corridors. “It really serves the client,” says Lanyard. “We're able to provide them with the vital data for the important decisions that have to be made. For many retailers, selecting one bad location can severely impact a chain of 20 stores so it is imperative that the retailer be well informed to make the right decision.” The team concept is a key component of the company's success in maintaining dominance in a geographical area.

The Clients

The company has built relationships with a range of retailers, both big and small. Goldstein has successfully closed 100 transactions for General Nutrition Centers, more than 50 for RadioShack, and approximately 150 for the Woolworth/Foot Locker Company, most of which were dispositions. Goldstein has also worked extensively with companies such as Marshalls, T.J. Maxx, CVS, Walgreens, La-Z-Boy Furniture, Mandee, Annie Sez, The Home Depot, H&R Block, UPS Stores and Casual Male. The company's restaurant division has worked with numerous regional and national chains such as Applebee's, Red Robin, Fuddruckers, Red Lobster, Olive Garden, T.G.I. Friday's, McDonald's, Burger King, Wendy's, White Castle and Dunkin Donuts.

“We are also currently working with a number of new retail concepts,” says Lanyard. “Some of those include iSold it on eBay; Massage Envy; Wild Noodles, a fast casual restaurant; Brunchies, which is a high-end crepe and pancake restaurant; and Baumgart's, a Pan-Asian style restaurant.”

“Each deal is unique,” says Alan Goldstein, co-founder and president. “Our vast market knowledge expeditiously brings about a successful and timely transaction. We are very open in our approach to sharing information with our clients. It has been very important in forming an honest relationship with our clients, which has led to repeat business over the past two decades.”

Expanding Services

As the company has grown, it has developed two other divisions, Goldstein Development and Goldstein Equities. The divisions further enable The Goldstein Group to fulfill its motto, “One Firm, Unlimited Solutions.”

Goldstein Development Company handles all aspects of retail and residential developments. This division acquires properties, creates joint ventures utilizing a value-added services technique, handles construction management and project financing. Presently, Goldstein Development Company is completing a retail project on Route 17 in Lodi, New Jersey, adjacent to Home Depot and National Wholesale Liquidators and is commencing the final phase of a Home Depot, Applebees and Wendy's urban redevelopment project in Newark, New Jersey.

The Goldstein Equities division handles all facets of commercial and mixed-use investments. The company has already helped clients place capital in projects, such as the 180,000-square-foot Pathmark Shopping Center in Eatontown, New Jersey and the 150,000-square-foot Levtiz/Babies R Us building in Paramus, New Jersey. “By co-investing with our clients in transactions we are enhancing relationships,” says Alan Goldstein.

The Goldstein Group continues to build on 20 years of experience by following what is proven to work, while at the same time, adding new dimensions to the firm. Even though the company is experiencing tremendous growth at its core, value is still placed on the importance of building relationships.

“We are also unique in that we enjoy doing things together as a company,” says Lanyard. “The feeling of teamwork extends beyond the workplace to the way we bond as a group.”

©2006 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.