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This Week's Most Popular

Rents Rise in Trophy Retail Districts, But Will Tenants Pay?

Published Friday, July 23, 2010

Rents are rising in many of the nation’s best-known trophy retail districts. Of the 13 markets tracked in the U.S. and elsewhere in the Americas in a report by brokerage CB Richard Ellis (CBRE), seven posted rent increases in the past 12 months. But as rents climb in these exclusive districts, and more national retailers move in, some tenants are balking at paying the higher prices. New York’s Fifth Avenue leads the way with the world’s highest retail asking rents at $1,650 per sq. ft. for ground-floor space, representing a 6.2% jump over 2009. Meanwhile, asking rents along ...

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