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Big Retail Leases in Times Square: New Research from JLL
Four of the five largest NYC retail leases signed in the third quarter 2017 were in Times Square. These four giant deals account for nearly half of all the transactions in the Times Square retail corridor as of mid-December, according to JLL Research.
The percentage of retail space available in Times Square at the end of the third quarter 2017 was just 8.8%, and is likely to fall even further once the giant leases are accounted for.
Lionsgate Entertainment signed the largest lease for retail space, signing up for 47,000 square feet at 11 Times Square. Cosmetics giant Sephora was among new entrants to the corridor, signing for 17,800 square feet at 1535 Broadway.
For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson
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