Retail Rents Plummet Across New York City, as America’s Glitzy Shopping Districts Turn into Ghost Towns
agosto 8, 2020
Article by: Lauren Thomas
- America’s glitziest and most expensive shopping districts are losing tenants, and rents are in a free fall.
- “In the U.S., certainly you will see that what was once perceived as a luxury block … is no longer exclusively luxury,” said Naveen Jaggi, the president of commercial real estate services firm JLL’s Retail Advisory team.
- Average asking rents along 16 major retail corridors in Manhattan declined for the eleventh consecutive quarter, falling to $688 per square foot in the second quarter, according to CBRE.
- The drop marked in Manhattan retail rent was the first time since 2011 that prices dropped below $700.
Read the full article: https://cnb.cx/3ioZNCX