February 14, 2017
Two of the strongest retail corridors in Manhattan are nestled in the Meatpacking District. The neighborhood is a hub for “experience retail,” including a 20,000-square-foot Starbucks Reserve Roastery store that plans to serve “coffee as theatre” when it opens in 2018.
“The Meatpacking District will likely continue to grow as a retail destination, with investment in public space and an increasing office workforce driving the opening of new entertainment venues and retail spaces,” according to CBRE’s retail report for Q4 2016.
CBRE research noted that average asking rents rose more than 4% in in Q4 2016 in two major shopping corridors in the Meatpacking District, compared to the year before. In comparison, asking rents fell an average 4.1% across the 16 retail corridors studied by CBRE.
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