Liberty Place - Philadelphia, Pennsylvania

Mixed-Use Development: Hotel, Office and Retail; Philadelphia Central Business District.

Client Relationship: Consultant to TIAA of New York

Task: Provide project re-design direction, create re-leasing plan and identify sources and uses of funds along with lease economics and tenant build-out budgets. In addition, a ten-year cash flow projection for the entire project was provided, including all items of revenue and expense for 2.2 million square feet of office space, 375,000 square feet of retail and a Ritz Carlton Hotel.

Result: Project was sold to a Japanese pension fund before completion of construction at a price $265 million more than the cost of construction.

Prudential Center - Boston, Massachusetts

Mixed-Use Development: Office High-Rise(1.2 Million Square Feet), High-Rise Residential, Two Department Stores, Convention Center, Food Store and Underground Parking; Boston’s Back Bay Area.

Client Relationship: Consultant to Prudential Insurance, Newark, New Jersey

Task: Provide research and analysis to determine feasibility of redeveloping the plaza area of the existing project to a heavy concentration of retail shops at a future date. Such date was to be determined by market conditions and termination of a 6% annual yield limitation with the Boston Redevelopment Authority. Research study concluded that the market would support the proposed retail redevelopment notwithstanding that Copley Place Center was already in place. Design studies were conducted with the assistance of the Harvard School of Landscape Design.

Sears Tower - Chicago, Illinois

Mixed-Use Development: Office, Retail in the Chicago “Loop” Financial District

Client Relationship: Evaluation of Alternative Site for Sears Tower reporting to Sears Board of Directors

Task: Provide site feasibility analysis for the Sears Tower site (now Willis Tower) as the land package comprising the originally selected site could not assembled as planned due to a land owner hold-out. Task was literally accomplished overnight, including a post midnight walk-through of all existing buildings on the newly proposed southwest Loop site. Task required traffic and mass transit analysis memo prepared overnight by Barton Aschman Traffic Engineers and estimates of costs to demolish existing buildings on the site. Early morning negotiations with the mayor and advisory staff were required as the practical feasibility of the project was dependent on closing an east / west street running

Water Tower Place - Chicago, Illinois

Mixed-Use Development: Vertical Retail (8 levels), Commercial Office Space, Residential Condominium Units and a Ritz Carlton Hotel on the Magnificent Mile of North Michigan Avenue.

Client Relationship: Consultant to Phil Klutznick as representative for the department stores in the development.

Task: To define the customer base, market areas and marketing strategy for the department stores and small shops in addition to devising a leasing strategy for small shop space. Market areas were defined by income, demographic and traffic studies, which proved to be: Near North side residential towers, Gold Coast residents, downtown office workers, North Shore residents, tourists and convention attendees staying at hotels on or near North and South Michigan Avenue in addition to suburban day-trippers to Michigan Avenue.

Ultimately our studies provided the department stores and small shops with reliable data as to the market share to be captured by market segment. Theories developed through these studies were later confirmed by physical surveys of shoppers. Moreover, these studies led to an understanding of the potential customer base by the retailers. As a result, the success of the development moved the epicenter of Chicago retail from State Street south of the Chicago River to the Magnificent Mile north of the River.

To view more past projects and experience view Robert L. Schout's Resume