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New York Industrial

RETAIL: NY OR BUST

Cushman & Wakefield's Joanne Podell (with colleague Suzy Reingold) tells us retailers’ aggressive interest in a NYC presence has not abated, to the extent that she was busy all the way through Friday, Dec. 30, queuing up closings. She says landlords have choices among tenants and aren’t rushing to sign the first prospect that comes along. Foreign retailers have been biting, yes, but domestic ones are emerging from their conservative cocoons and starting to grow. Another trend: early renewals from some tenants to lock in long-term locations. Next on her to-do list is looking at which retailers didn’t do well over the holidays in order to uncover opportunities for other tenant clients.

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