Retail Tenants Make Their Mark In New York

Fountain of 30

April 29, 2014 • Fashion Blog, Fashion News, Industry

meatpacking district

Retail is continuing to be a bright leasing sweet spot for brokers in New York. Brooklyn has gone from wasteland to wonderland as more national retailers fight for a position. Neiman Marcus is one store that is taking on this trend. They have signed a deal for its first location for its LastCall division. Many other stores are targeting Fulton Avenue, CityPoint and around Barclay’s Center. Retailers are even looking at Queens as being the new Brooklyn and focusing on Jackson Heights. The Bronx will soon have the luxurious enclosed mall at Bay Plaza to be anchored by Macy’s and JCPenney, and as for Manhattan rent is rising on Madison Avenue locations. The stores Urban Outfitters, Zara and Gap will soon open on Broadway attracting more costumers. As SoHo and Nolita rents skyrocket many smaller retailers and even restaurants are heading to the Browery area. Due to the opening of the new Whitney Museum, the Meatpacking District is becoming a hot spot for pop-ups and hotels.

–Rachel Bogo

Source: NY Post

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