JLL has announced a significant expansion of its retail and entertainment leasing capabilities with the appointment of industry veterans Joshua Strauss and Scott Zinovoy. The move, announced on Monday, signals a strategic reinforcement of JLL’s commitment to the evolving "experiential" retail sector, a segment that has become the cornerstone of modern urban and suburban development. Strauss joins the global brokerage firm as Executive Managing Director, while Zinovoy takes on the role of Senior Vice President. Both professionals transition to JLL from Dreamscape, a boutique retail and entertainment real estate firm they co-founded, bringing with them a wealth of experience in high-stakes project leasing and brand positioning.
The integration of Strauss and Zinovoy into JLL’s New York and national project leasing platforms is designed to meet the growing demand for transformative retail environments. As the commercial real estate landscape shifts away from traditional transactional retail toward immersive, lifestyle-oriented destinations, JLL is positioning itself to lead the advisory space for landlords and developers seeking to revitalize their portfolios. Patrick A. Smith, Vice Chairman at JLL, emphasized the importance of this acquisition of talent, noting that the pair’s deep understanding of consumer resonance and brand-building will be a "tremendous asset" to the firm’s diverse client base.
A Legacy of Placemaking: The Careers of Strauss and Zinovoy
Joshua Strauss and Scott Zinovoy have spent the last decade at the forefront of some of the most complex and high-profile retail developments in the United States. Their professional partnership is characterized by a focus on "placemaking"—the art of creating multi-faceted environments where retail, dining, and entertainment intersect to drive foot traffic and increase asset value.
Before the founding of Dreamscape, both Strauss and Zinovoy were key figures at RKF (Robert K. Futterman & Associates), an independent real estate firm that specialized in retail leasing and investment sales. During their tenure at RKF, they were instrumental in the firm’s rise to prominence as a dominant force in the New York City market. In 2018, when Newmark acquired RKF to bolster its own retail presence, Strauss and Zinovoy continued their work under the Newmark banner before eventually launching Dreamscape. This entrepreneurial venture allowed them to focus specifically on the "experiential" niche, advising on projects that require a more nuanced approach than standard retail leasing.
Their portfolio includes several landmark projects that serve as case studies for modern mixed-use success. In New York City, they played a pivotal role in the redevelopment of the South Street Seaport. Under the ownership of the Howard Hughes Corporation, the Seaport underwent a massive transformation from a tourist-centric pier into a sophisticated culinary and entertainment destination, anchored by the Pier 17 rooftop and the Tin Building by Jean-Georges. Strauss and Zinovoy’s involvement in such a high-profile project demonstrated their ability to curate a tenant mix that appeals to both local residents and international visitors.
Beyond New York, the duo has left a significant mark on the Southeast. They advised on the leasing strategy for The Arcade in Nashville, a historic retail marketplace that has been reimagined to fit the city’s booming commercial profile. Similarly, their work on Bayside Marketplace in Miami involved navigating one of the most visited shopping centers in Florida, ensuring it remained competitive in a market increasingly defined by luxury and entertainment-led developments.
The Strategic Shift Toward Experiential Retail
The hiring of Strauss and Zinovoy comes at a critical juncture for the retail industry. According to JLL’s recent market research, the retail sector has shown remarkable resilience in the post-pandemic era, but the drivers of growth have changed. While e-commerce continues to capture a significant share of commodity shopping, physical storefronts are increasingly being used as "brand showrooms" and social hubs.
Data from JLL’s 2024 Retail Outlook indicates that "eatertainment"—concepts that combine food and beverage with activities like boutique bowling, high-tech golf, or immersive art—is one of the fastest-growing segments in commercial leasing. This trend is not limited to major urban centers; suburban "live-work-play" developments are also seeing a surge in demand for experiential anchors. By bringing Strauss and Zinovoy on board, JLL is doubling down on its ability to service this specific market need.
Landlords today are no longer just looking for tenants who can pay rent; they are looking for "destination drivers." The expertise provided by the new JLL recruits involves identifying these drivers and integrating them into a cohesive ecosystem. This requires a deep understanding of consumer demographics, local market nuances, and the operational requirements of non-traditional retail tenants.
Chronology of the Strauss-Zinovoy Partnership
The professional trajectory of Joshua Strauss and Scott Zinovoy reflects the broader consolidation and evolution of the real estate brokerage industry over the past twenty years:
- The RKF Era (Early 2000s – 2018): Strauss and Zinovoy established themselves as leading brokers at RKF, focusing on the New York City retail market. They were involved in numerous flagship deals that defined the retail character of neighborhoods like SoHo, the Meatpacking District, and the Upper West Side.
- The Newmark Acquisition (2018): Newmark’s acquisition of RKF was a watershed moment for retail brokerage. Strauss and Zinovoy joined Newmark as part of this transition, helping to integrate RKF’s specialized retail knowledge into Newmark’s global platform.
- The Founding of Dreamscape (Post-2018): Recognizing a gap in the market for specialized advisory services focused on entertainment and experiential concepts, the pair founded Dreamscape. This move allowed them to work more closely with developers on "transformative" projects that required a bespoke approach to leasing.
- Joining JLL (2024): The move to JLL represents a return to a global platform, providing Strauss and Zinovoy with the resources and international reach necessary to scale their experiential retail initiatives. For JLL, the move secures two of the most respected names in the field during a period of intense competition for retail talent.
Official Responses and Market Sentiment
The reaction to the announcement within JLL and the broader industry has been one of optimism. Joshua Strauss highlighted the current evolution of retail as a primary motivator for joining the firm. "Scott and I are excited to join JLL at a time when retail continues to evolve across both urban and suburban markets," Strauss stated. He noted that while experiential retail is a primary driver of demand, their focus remains on helping clients navigate the complexities of the entire retail landscape, from traditional brick-and-mortar to modern mixed-use.
Scott Zinovoy echoed these sentiments, emphasizing the cultural and structural fit with JLL. "We were drawn to JLL because of its industry-leading platform, global reach, outstanding reputation and, most importantly, its people and collaborative culture," Zinovoy said. He added that the firm provides an "ideal environment" for growing their business and helping clients realize transformative visions for their properties.
Industry analysts suggest that JLL’s move is a defensive and offensive play. By securing Strauss and Zinovoy, JLL prevents competitors from capturing their unique expertise while simultaneously enhancing its own ability to win major project leasing assignments. In a market where high-quality retail space is in short supply and demand for "vibrant" mixed-use environments is at an all-time high, having a specialized team is a significant competitive advantage.
Broader Implications for the Commercial Real Estate Industry
The recruitment of Strauss and Zinovoy by JLL is indicative of several broader trends currently shaping the commercial real estate (CRE) industry:
1. The Institutionalization of Experiential Retail
Once considered a niche or experimental segment, experiential retail is now an institutional-grade asset class. Major real estate investment trusts (REITs) and institutional owners are increasingly allocating capital to projects that feature significant entertainment components. The presence of specialized brokers like Strauss and Zinovoy at a firm like JLL facilitates the flow of institutional capital into these projects by providing the necessary market intelligence and leasing execution.
2. The Flight to Quality and Experience
In the current economic environment, there is a clear "flight to quality." Retailers are gravitating toward prime locations that offer high foot traffic and a compelling environment. Conversely, "commodity" retail centers that lack a unique draw are struggling. JLL’s focus on experiential leasing aligns with this market reality, as developers seek to future-proof their assets by creating destinations that cannot be replicated online.
3. The Recovery of Urban Retail Cores
Cities like New York, Nashville, and Miami have seen a robust recovery in retail leasing activity. New York City, in particular, has seen a resurgence in luxury and experiential leasing in 2023 and early 2024. The appointment of Strauss and Zinovoy, who have deep roots in the New York market, suggests that JLL anticipates continued strength in the city’s retail sector.
4. Cross-Regional Synergy
The national scope of Strauss and Zinovoy’s previous work—spanning from the Northeast to the Southeast—allows JLL to leverage their relationships across multiple markets. This is particularly relevant as many retailers and entertainment concepts are currently expanding out of New York and into high-growth markets like Florida and Tennessee.
Looking Ahead: The Future of Project Leasing at JLL
As JLL integrates Strauss and Zinovoy into its leadership structure, the focus will likely turn to several upcoming large-scale developments across the country. The firm’s project leasing platform is expected to take a more aggressive stance in pursuing mixed-use assignments that require a sophisticated blend of retail, dining, and leisure components.
For landlords, the addition of the Dreamscape founders means access to a broader network of "new-to-market" tenants—those brands and concepts that are just beginning to expand their physical footprint. For tenants, it provides a bridge to some of the most prestigious real estate opportunities in the JLL portfolio.
The move ultimately reinforces the notion that in the modern era of real estate, the value of a property is determined not just by its location, but by the experience it offers. With Joshua Strauss and Scott Zinovoy at the helm of its experiential initiatives, JLL is well-positioned to define what that experience looks like for the next generation of consumers.
