Retail Rents Falling From Manhattan To Los Angeles
PYMNTS
JANUARY 11, 2021
The worst results came from Lower Manhattan’s Broadway/Houston Street/Broome Street area, where average asking price per square foot tumbled 25 percent year on year. That’s nearly twice the drop that retail rents saw following the 2008 Great Recession. Nationwide, Moody’s Analytics estimated that effective retail rents would fall 11.1
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