Increasing subway ridership in New York City is among the factors helping to boost that market's retail traffic as the country's largest city looks to put Omicron behind it.
Ridership rose to pre-Omicron counts by early April, and should maintain this upward trend moving forward, Marcus & Millichap said as part of its Q2 New York Retail Market Report issued this week.
Bridge and tunnel usage suggests that an additional portion of commuters have returned to office districts, but are entering the city via personal vehicles as extant health risks influence transit choices. Spikes in tourism are also factors in overall improvement.
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