Cheaper leases have restaurants and retailers taking new spaces in Manhattan
July 15, 2021
Restaurant chains signed 23 new lease deals in Manhattan during the second quarter and retailers agreed on 10 others as lower rents are being offered by landlords trying to attract commercial tenants following the damage done to their businesses last year by the novel coronavirus pandemic. “Restaurants are busy right now. Super busy. And so a lot of that deal-making is a bit opportunistic because … people are thinking more about the long-term comeback,” said David LaPierre, vice chairman of CBRE’s global retail services team.
Recent News
Truckers File Lawsuit Against NYC Congestion Pricing
The fees will be imposed on all drivers beginning June 30.
Two Planes Narrowly Collide at Reagan National Airport
This is the second time this type of incident has occurred in two months at the same airport.
Orange Juice Prices Soar, Producers Consider Alternatives
Orange juice producers are grappling with a significant challenge as soaring prices driven by a global shortage of oranges prompt them to consider alternative fruits for making the popular breakfast beverage.
Jeep’s New Wagoneer S Trailhawk Concept Is an All-Electric SUV
Jeep has unveiled the Wagoneer S Trailhawk concept, an all-electric SUV that combines off-road capability with modern electric technology.