Jay Luchs (Newmark) on Building a Real Estate Empire, Strategy for Brick and Mortar, and Newbie Lease Mistakes

If you’ve driven through Los Angeles, you’ve already met today’s guest. Jay Luchs is one of the most influential retail real estate brokers in LA; his “For Lease” signs are plastered across the city’s most valuable streets, from Rodeo Drive to Melrose. But behind those signs is a business built on relationships, taste, and a deep understanding of what actually makes a retail concept work. In this episode, Jay sits down with Sammi to break down how the business really works: how he wins listings in one of the most competitive markets in the country, what founders consistently misunderstand about signing their first lease, and why picking the wrong landlord can quietly kill a business. They also go deep on the future of retail in LA—from why food and coffee are now the backbone of any successful retail strip, to how brands like Erewhon can completely transform a street overnight, to why there’s actually less available space than people think. Follow Sammi Cohen on Instagram Subscribe to the Social Currency newsletter Follow Jay Luchs on Instagram Learn more about Mercury for Personal and Business Here’s what Sammi covers with Jay: 00:00 Jay Luchs’ Social Currency 02:22 Real Estate Origin Story 06:40 Why Real Estate Is a Creative Business 09:27 How the “For Lease” Empire Works 12:05 Winning Listings in a Competitive Market 14:19 What Founders Get Wrong About Leases 15:25 How to Spot a Bad Landlord 17:00 Choosing the Right Retail Location 18:46 Why LA Has Less Retail Space Than You Think 21:15 What Makes a Retail Area Thrive 22:24 How Social Media Changed Real Estate 29:03 Inside a Decade-Long Development Project 32:00 Turning Retail Into a Destination 37:23 Building Relationships That Last 40:01 Jay’s Daily System for Clarity 41:21 Can Retail Rebuild Communities? 45:12 What Makes a Brick-and-Mortar Store Succeed Learn more about your ad choices. Visit megaphone.fm/adchoices