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05/17/2012 - 12:02 PM
EXCESS SPACE RETAIL SERVICES CELEBRATES 20-YEAR ANNIVERSARY
LAKE SUCCESS, NY. – MAY 17 2012 – Excess Space Retail Services (“Excess Space”) is celebrating its 20-year anniversary as the first national consulting and advisory firm to specialize in surplus real estate disposition and lease restructuring for retailers. The company was founded by President and CEO Michael Wiener in May 1992 and currently has offices in Lake Success, NY and Huntington Beach, Calif.
Highlights of Excess Space’s success in the past 20 years include:
· Over $3.5 Billion in savings to clients
· Over 16,000 retail stores successfully disposed
· Over 7,000 retail leases effectively restructured
"In our 20 years, we have seen dramatic changes in the retail market including multiple peaks and valleys," said Wiener. "Today, albeit more cautiously, retailers have once again started to expand. In fact, many of those same retailers are simultaneously undertaking in-depth portfolio analyses, so as to identify weaker stores that can potentially be downsized, closed and/or relocated."
Wiener went on to say that there is also a definitive trend towards downsizing/rightsizing as companies adjust to smaller footprint requirements mostly as a result of very strong internet sales. For now and the foreseeable future, this trend will be a driving factor in many of the anticipated closings/relocations.
About Excess Space Retail Services, Inc.
Founded in 1992, Excess Space, , with offices in Lake Success, New York and Huntington Beach, California has established the industry standard for providing leading national and regional retailers with "best-in-class" real estate disposition, lease restructuring and lease renewal services. During the company’s 20 year history, Excess Space has successfully disposed of and restructured leases for over 160 national and regional retailers. Excess Space can be found on Twitter @ExcessSpace. For more information about the privately held firm, please visit http://www.ExcessSpace.com.
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