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
Paramount and Skydance on the Brink of Landmark Merger Deal
The entertainment landscape is in the midst of a monumental shift due to a staggering development.
Cucumbers Recalled in 14 States Over Salmonella Concerns
It is not clear where the cucumbers were tainted with salmonella.
‘Swicy’ Is the New Food Trend Sweeping the Nation
American palates are heating up as consumers increasingly embrace spicier, more flavorful food and drink options.
Saudi Aramco Launches $12 Billion Secondary Share Sale
Saudi Aramco, the world’s largest oil company by daily crude production and market capitalization, launched a substantial secondary public offering on Sunday, aiming to raise around $12 billion.