AvalonBay's Upper West Side tower achieves full retail occupancy

The opportunity

AvalonBay, a leading real estate investment trust, sought to maximize the potential of their prestigious mixed-use project at 1865 Broadway in New York City's exclusive Upper West Side. This 33-story luxury tower features more than 70,000 SF of prime retail space spread across the ground, Lower, and second floors. Recognizing the complexity of the project and the highly competitive New York City market, AvalonBay engaged the New York JLL retail team to develop a comprehensive merchandising strategy. JLL's task was twofold: to curate an exceptional tenant mix catering to the discerning tastes of both the premier residential tower and the surrounding neighborhood, and to craft an impactful brand and marketing approach. This strategic partnership aimed to effectively launch 1865 Broadway, positioning it as a prime retail opportunity in one of the city's most coveted neighborhoods.

The challenge

To curate a mix of retailers that would enhance the building, as well as the surrounding neighborhood.

The JLL leasing and marketing teams collaborated closely with the client to identify a carefully curated mix of retailers that would not only enhance the value of the building for its residents but also contribute positively to the surrounding neighborhood. The primary objective was to develop compelling marketing materials that would effectively generate interest and capture the attention of target retailers, highlighting the significance of meeting the marketing challenge head-on.

Bringing it to life

Data and visualization tools lead to success

Marketing relied on data and visualization tools to introduce 1865 Broadway to the market and highlight Upper West Side location and the building’s excellent visibility.

The marketing team’s ability to create compelling property marketing materials, building signage, custom retail renderings specifically tailored to targeted tenants was crucial in the leasing team’s efforts to attract desired brands to the building. The renderings presented 1865 Broadway with individual retailer’s signage and storefront, which resulted in high number of space tours and ultimately lead to signing of top brands, meeting and exceeding landlord’s expectations.

Key highlights

• Data & visualization tools
• Custom tailored renderings
• Compelling story
• Large number of tours

Results

JLL secures prominent and esteemed tenants.

JLL's leasing team successfully completed the retail assignment by securing prominent and esteemed tenants such as Target, Fidelity Investments, Summit Health Urgent Care, Spectrum, and most recently, Sephora. Through their expertise, JLL sourced best-in-class retail and service providers to occupy the entire retail space. With an additional 2,634 SF on Broadway becoming available, the JLL broker team helmed by Matt Ogle are well-poised to field inquiries.