Possessing more than two decades of industry experience, Joyce Storm is a respected real estate investment professional and the president of Storm Partners, a New York-based company that specializes in revitalizing retail properties. Additionally, Joyce Storm is a founding member of the Zell/Lurie Real Estate Center at the Wharton School of Business, where she also serves as a member of the advisory board.
The Zell/Lurie Real Estate Center offers a fellowship to help applicants with some career search costs. The funding is made possible through contributions from David Helfland and Leslie Bluhm, and can be used to cover costs incurred for travel, attendance at professional conferences, job interviews, and other expenses. All funding is provided on a reimbursement basis, which means the applicant must pay the expenses up front.
In order to be eligible, applicants need to demonstrate a legitimate financial need that would prevent them from being able to take part in a career search opportunity. They must also be full-time students at the Wharton School of Business and belong to a club that is officially sponsored by Zell/Lurie. For more information on the fellowship, visit realestate.wharton.upenn.edu/helfand-bluhm-fellowship.
As president of Storm Partners, LLC, Joyce Storm has 30 years’ experience in acquiring, marketing, and leasing malls and other retail spaces. Joyce Storm was recently invited to speak to the Asset Management Round Table for the Building Owners and Managers Association regarding retail real estate. In 2019, the year’s commercial (retail) real estate reports show that traditional brick-and-mortar shops are important to New York City residents.
Retail rents on the whole declined in the city, with much of this related to the transformation of the traditional retail establishment into newer spaces. A seeming contradiction, leasing activity has increased while rents have decreased. One key reason is that New York City is characterized by very high commercial real estate rents, but retailers are opting for inexpensive pop-ups and promotional spaces that allow them to pay less and lease for a shorter time.
Not every area in New York City experienced this downturn, however. Downtown Manhattan saw a spike in late spring, with places like Broadway, Herald Square, and Times Square seeing an increase in rents. In total, rents rose 19 percent over fall 2018 in these areas. The rents in Billionaires Row also rose 2 percent over the last quarter of 2018.
For 30 years, Joyce Storm has worked at the forefront of the retail real estate development and consulting industry. The president of Storm Partners, LLC, Joyce Storm was selected as a juror for the International Council of Shopping Centers’ (ICSC) 2019 North America Design and Development Awards.
Each year, the North America Design and Development Awards recognize the best entries in the areas of new development, renovation, and retail store design. Entries represent a broad array of retail properties and retail store candidates submitted by developers, retailers, architects, and other professionals involved with retail projects.
Recipients of these awards are announced during the ICSC Global Awards Ceremony at the annual RECon retail conference in Las Vegas, Nevada.
Joyce Storm serves as the president of Storm Partners, LLC, a retail real estate development, investment, and advisory firm that she founded two decades ago in New York City. Based on her enduring track record of success in facilitating high-profile mixed use, regional shopping, and entertainment transactions, the International Council of Shopping Centers (ICSC) has selected Joyce Storm as a juror for its 2019 North America Design and Development Awards. ICSC is the preeminent retail developer organization in the world with over 70,000 members. It is a powerful global voice for retail real estate industry.
The ICSC was established in Chicago in 1957. Since then, it has worked to highlight the contributions of the retail real estate community in developing the economic prospects of people all over the world, as well as their civic and social opportunities. Its tens of thousands of members work to add value to communities through the property and sales revenue they generate and leverage their technology and innovation experience to elevate the public’s quality of life.
The organization’s 2018-2019 annual report focused on its role in a rapidly changing industry and global economy. The report also detailed the ICSC’s efforts to use technology more effectively for the benefit of its members and the new features added to its professional events. At the 2018 RECon retail conference, for example, dozens of tech firms showcased their products and services during the future-centered ICSC Innovation Exchange.