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Article: Retail resurgence continues to sweep Manhattan. (Manhattan, New York, New York)(Mid-Year Review and Forecast)(Industry Overview)
- Article from:
- Real Estate Weekly
- Article date:
- June 21, 1995
- Author:
CopyrightCOPYRIGHT 1995 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It doesn't take a real estate broker to notice the retail resurgence around Manhattan.
Since last year, activity in Manhattan's retail market can only be described as "explosive." Despite continuing layoffs and a shaky economy, large chains and smaller retailers will continue expanding in Manhattan for the remainder of the year, driving retail rents upward.
In fact, stores are expanding by leasing major space in almost every area of New York City, and Manhattan continues to become one of the nation's most competitive superstore markets. Today, the superstore phenomenon is growing by leaps and bounds, and it's difficult to keep track of the openings all over ...