NYC Mall Rents Lag Behind Other Cities

Law360, New York (September 10, 2012, 5:42 PM EDT) -- Despite New York retail real estate's ability to remain hot throughout the economic downturn, one particular type of retail class — malls and shopping centers — has been unable to pull in the kind of rents that can be seen in other major cities, a Cushman & Wakefield Inc. report revealed Monday.

Occupancy and rental rates have grown in New York, along with tourism, but the average rent for a mall or shopping center in the tri-state area is only $75 to $150 per square foot...
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