April 21, 2017 Comments (0) Views: 304 National News, New York, Northeast

An Airbnb for Retail Space Launches in NY

London-based Appear Here launched an Airbnb-like marketplace for retail space in New York. The platform matches vacant retail space with pop-up stores, and it has already lined up several major landlords, including Brookfield Property Partners and Simon Property Group.

The company is known for creating new “destinations,” by utilizing non-retail locations, such as an abandoned men’s restroom in a London subway station for a fashion-forward menswear shop last year.

The marketplace is expected to be a boost for the retail sector, which is facing retail consolidations and store closings, primarily as a result of consumers’ shifting to ecommerce shopping habits.

For landlords such as Brookfield, the strategy is to bring diversity to its retail spaces by adding pop-up stores in public areas, such as the Winter Garden at Manhattan’s Brookfield Place.

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