February 24, 2017
Sean Moran, the new director of Cushman & Wakefield’s New York City Retail Brokerage Services Group, has his eye on how retail real estate is changing, as once-dependable tenants, such as banks, require less space to serve their customers.
“The way the average customer interacts with their bank continues to evolve, and the financial institutions are still trying to adapt,” Moran told Connect Media. So far in 2017, banks are choosing smaller spaces for their branches, or are consolidating multiple branches together within a submarket, leaving gaps in the retail landscape.
Moran was named one of New York’s “30 Under 30” by the Commercial Observer in 2015. Since becoming a broker in 2008, he has been associated with more than 125 transactions, totaling more than 850,000 square feet, at an aggregate value of more than $2.4 billion. He previously served as vice president at CBRE, where he leased spaces such as 1626 Broadway in Times Square (pictured).