NEW YORK CITY-Landlords have a "much more controlling position" with retail tenants in this evnvironment, especially in core markets where space is scarce, says David LaPierre, executive vice president with CBRE's Global Retail Services Team. He was also recently a REBNY Retail Deal of the Year award winner for the most ingenious and creative retail deal. We spoke with him here at the firm's Manhattan headquarters.
The discussion touched on:
- Whether or not rent concessions are still taking place.
- The skyrocketing rents seen in certain markets.
- Whether or not retail sales can keep up with rent increases.
- How he viewed the RECon show in Las Vegas last month.
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