Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/753030
116 S C T / D E C E M B E R 2 0 1 6 R etailers looking to boost store count and open street-front stores in New York City are thinking about more than just target demographics: Now they can take advantage of more-affordable rents. Following some hefty increases in 2015, rents have actually fallen in 10 of the top 17 Manhattan retail markets since the fall of 2015, and asking rents for ground-floor retail spaces have dropped in several corridors, according to the Real Estate Board of New York. "The rents have gotten more reasonable — it's a fact of life," said Faith Hope Consolo, chairman of the retail group at New York City–based Douglas Elliman Real Estate. "It's the reason we're seeing so much activity and so many concepts are now able to get off the ground." Three retail categories in particular are raising their street-front Rents are getting more reasonable for some of Manhattan's busy streetfront storefronts By Ben Johnson Street level STREE T-FRONT RE TAIL TRENDS IN MANHAT TAN 116 HONORING FIRST BL ACK CENTER OWNER 124 GENER AL GROW TH BRINGS MORE HIP RE TAIL TO NORWALK, CONN. 126 NE W DE VELOPMENT FOR NE W HAMPSHIRE 128 S I T E S & C I T I E S T H E P L AC E S W H E R E R E TA I L D E V E LO P M E N T I S H OT