The economy having fully re-opened has led to increased retail presence in urban settings, including in some areas near the historically strong streets such as Madison Ave. and Michigan Ave, according to a new report from JLL about urban retail.
Nearly half of retail leases in prime corridor spaces sell apparel. Its 48% share there is up from the 35% mark in 2022. Athleisure retailers comprised 21% of new apparel leases, given its trendy look and the continued popularity of working from home.
Prime corridors are also home to many luxury brands. Fifth Avenue in New York, Newbury Street in Boston, Bloor Street in Toronto, and Chicago's Gold Coast are home to many luxury brands' new stores.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
