Tuesday, December 20, 2011
Friday, December 9, 2011
Tuesday, December 6, 2011
Monday, December 5, 2011
West Village/Greenwich Village Market Outlook
West Village/Greenwich Village Market Outlook
This has been an interesting year for Commercial Retail. The market has seemed to be a bit more stable than in previous years with a serious up-tick in asking rents. This up-tick in retail rates is pushing many restaurants and retailers out of the West Village/Greenwich Village area and has long time retailers and restaurants looking for new space that better fits their finical budget that would allow them to stay in the area. They are having a difficult time making this realty. Landlords are holding firm on the higher rents even if that means the space stays on the market an above average amount of time. There are currently about 80 retail spaces for lease in the West Village/Greenwich area with an average asking rent of $107.60 with a total of about 193,338 square feet for lease. It will be interesting to see how things play out after the holiday season concludes. As retailers have had an employment hiring increase last month and this hiring increase could lead to retailers opening new locations or expanding. Our fingers are crossed.
Friday, December 2, 2011
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