As retailers slug it out for market share and the attention of distracted consumers, landlords are taking full advantage of the limited amount of space in A and B malls.
“The vacancy rates have really narrowed,” said Andrew Graiser, copresident of A&G Realty Partners, a real estate advisory firm. “You’re in a world right now where there’s little to no growth in new developments outside of outlets. There are a lot of retailers that are growing, they have no place to grow, so therefore there’s a lot more demand for A- and B-quality retail. The rents are going up.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)