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Business Cushman & Wakefield to manage Pier 1's lease portfolio

Cushman & Wakefield to manage Pier 1’s lease portfolio

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Cushman & Wakefield announced Feb. 27 an agreement with Fort Worth-based retailer Pier 1 Imports for management of the company’s lease portfolio of more than 1,000 stores with 10 million square feet across the United States and Canada.

“Cushman & Wakefield will work with Pier 1 Imports to assess and develop a strategy for various locations within the company’s vast store portfolio, helping to gain efficiencies and bring costs down.” said Todd Kohlbecker, senior managing director at Cushman & Wakefield.

“Our goal with Pier 1 Imports is to develop a broader plan for how we approach the portfolio, and then drill down into individual leases from a more strategic standpoint to help them effectively manage their resources,” Kohlbecker said. “Cushman & Wakefield was awarded this critical assignment because of our myriad of strengths in this area.”

Bret Bunnet, executive managing director of Cushman & Wakefield said the growth of e-commerce has forced every retailer to examine strategically their brick-and-mortar stores.

“Cushman & Wakefield is uniquely qualified to develop and execute an approach for multi-market locations,” Bunnett said. “Our work for Pier 1 Imports offers everything from renewals to new leases to right-sizing the retail chain where it’s needed most.”

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