News & Noteworthy

Article - Bruce Bronster Discusses Retail RE Trends, Social Media via NYREJ
DECEMBER 02, 2013 | New York Real Estate Journal

The November 29th edition of the New York Real Estate Journal (NYREJ) included a survey of real estate industry participants and their thoughts on retail real estate trends and related issues. Bruce Bronster (Partner, New York) was quoted extensively.

NYREJ asked: Are retailers finding the types of properties that they want right now and are tenants happy with the sites available to them?

Bruce responded:

  • "As NYC becomes a global destination there are more international retailers looking to open and expand in the city. This competition has increased the demand for premier locations, reflected in upward price pressure on rents for marquee locations. This can be seen, for instance, in the significant rent increases along stretches of Fifth Avenue which were formerly not considered desirable. All of this means that retailers are desperate to find desirable locations and are not finding locations easily. This also means that landlords are being more creative than ever in reclaiming potential retail sites from their existing buildings."

Read the full article.

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