MELVILLE, NY–A&G Realty Partners has expanded its senior management team with the appointment of industry veteran Mike Matlat as senior managing director. In this role, Matlat will be responsible for bringing the firm into new sectors—including hospitality, industrial and mixed-use—while supporting A&G retail and equity teams.
“There is a radical transformation taking place in commercial real estate, causing companies across the board to rethink their real estate strategy and look to either reduce the square footage, relocate or monetize their leases and fee-owned properties,” says Andy Graiser, co-president. “Mike’s strong track record will enable us to help a broader range of companies navigate this transformation and structure creative real estate solutions that generate value.”
He explains further to Globest.com, “You’re in a marketplace where there’s no new development going on, you have very cheap money and a lot of people are expanding or changing their footprint. Some retailers are going from small to big, or the other way around, and non-retailers that would never have touched shopping centers are looking at them because of foot traffic, while developers are looking to create mixed-use properties, with entertainment, residential and retail—out of their shopping centers.”
Also, he notes, “we’re seeing educational users consider retail space, and 24-hour-care facilities in strip malls, we’ve never seen that before. So tenants are looking to, different types of uses and they’re competing aggressively for those spaces by paying a lot of rent in order to be in these higher traffic areas, versus office space.”
A&G is counting on Matlat to get the firm more involved with these types of tenants. With over 20 years of commercial real estate expertise specializing in real estate sales, lease dispositions and negotiating occupancy cost reductions, Matlat was most recently managing director at DJM Realty. During his career, Matlat has achieved over $500 million in sales of warehouse, industrial, hospitality, retail and residential space. Matlat also is the former president of the Turnaround Management Association‘s Long Island chapter.