Major retail players are being hit especially hard in NYC. With office workers shunning the city en masse and tourism all but nonexistent, what does this mean for New York? Major retailers with flagship stores in New York are feeling the revenue loss as a result of this pandemic, and this is dictating their real estate decisions. Victoria’s Secret, Gap, and Shake Shack to name a few – all up in the air as to what will happen in the future with their New York City market. What does this mean for your office space lease?
Make sure your broker understands the potential impacts of this pandemic on the NYC market. Let GE Grace help lead you in your office space negotiations.