NYC retailers struggle with high rents and changing consumersNew York Post 12/13/2019
Yes, the retail landscape is changing across the U.S. as the increasing influence of digital marketing and ecommerce forces chains to adjust their thinking about what physical stores should be. That holds true in New York City, as well, but historically high prices for space puts another layer on the challenge. “The problem now is that rents are too high, and tenants are tired of losing money,” said Michael Cohen of Colliers International.
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