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Q&A: Gordon Brothers on changing the game in real estate services

Al Urbanski
GORDON BROS-williams-burden
Gordon Brothers' Al Williams and Michael Burden

When Nexus Capital failed to close on the Big Lots acquisition during the retailer’s bankruptcy, a full liquidation seemed inevitable. 

But Gordon Brothers had a different plan for handling the situation. Its team structured an unprecedented deal with Variety Wholesalers to take hundreds of stores, preserving the Big Lots brand and saving thousands of jobs. The industry had never seen a deal like it. 

Chain Store Age sat down with Al Williams and Michael Burden to talk about how they’re changing the game in real estate services. 

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Both of you had long careers in retail real estate before joining Gordon Brothers in 2023. Why the move? 

Williams: We had built the first business of its kind focused entirely on helping occupiers optimize their real estate portfolios and reduce occupancy costs. After selling to a general brokerage firm in 2015, we stayed on but grew increasingly frustrated. The culture prioritized deals over relationships, and over time we felt the focus had shifted away from what mattered most--delivering real value to clients. Gordon Brothers gave us the platform to return to our core values and execute our vision for what real estate services should be--smart, strategic, and built to solve today’s most complex challenges. 

How does that vision play out day to day? 

Burden: We blend real time data, operational expertise, and access to capital. That’s what sets us apart. Our platform translates market intelligence into strategy and action. And we don’t just advise—we execute. The capital behind us gives us flexibility, whether we’re helping restructure distressed assets or supporting growth initiatives. We’ve also built an outstanding team, including many with retailer-side experience. They’ve sat in that seat, made the tough calls, and understand how decisions actually get made. That insight ensures our strategies are not just sound but also practical and aligned with how clients operate. 

Has the model delivered results

Williams: Absolutely. In just 18 months, we’ve worked with over 30 national retailers, helped open more than 500 stores, and restructured or renewed more than 1,000 leases. The resulting savings are in the hundreds of millions. We’re also now providing lease administration to many of our clients as part of a fully integrated solution. But the real value is helping clients move faster, make smarter decisions, and execute plans that actually work. 

In less than 18 months, we’ve built the largest advisory service of its kind. That speaks volumes about the demand for a more strategic, intelligent approach to real estate. 

Your LEGO engagement was another high-profile deal. How has that partnership played out? 

Burden: LEGO wanted to grow, but in a thoughtful and structured way. They were not just looking for new locations. They needed a roadmap. They also wanted to optimize their portfolio and lower overall occupancy costs. We helped them build a strategy for sustainable expansion, filled the pipeline, and reduced expenses along the way. It is a great example of how we help brands scale with precision and efficiency. It has been an incredible partnership. We really value the relationship and love working with their team. 

Do you consider yourselves disruptors? 

Williams: Yes, but not just for the sake of being different. The industry has been slow to evolve, and expectations have changed. We bring together strategy, data, and the ability to execute. That gives clients real confidence in uncertain situations. The disruption comes from how we operate and how much more we’re able to deliver. 

CSA: What the biggest thing that you think sets your team apart? 

Burden: We sit at the intersection of insight and execution. We’re not just tracking trends, we’re helping shape outcomes. And with the broader Gordon Brothers platform, we often see what’s coming before others do. Whether a client is growing, repositioning, or managing older assets, we help them stay ahead of the curve. 

Simply put, if there’s a challenge to solve, we have the tools, people, and experience to solve it, no matter where a business is in its lifecycle 

 

Al Williams and Michael Burden are co-heads of North American real estate services at Boston-based Gordon Brothers

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