The economy having fully re-opened has led to increased retail presence in urban settings, including in some areas near the historically strong streets such as Madison Ave. and Michigan Ave, according to a new report from JLL about urban retail.
Nearly half of retail leases in prime corridor spaces sell apparel. Its 48% share there is up from the 35% mark in 2022. Athleisure retailers comprised 21% of new apparel leases, given its trendy look and the continued popularity of working from home.
Prime corridors are also home to many luxury brands. Fifth Avenue in New York, Newbury Street in Boston, Bloor Street in Toronto, and Chicago's Gold Coast are home to many luxury brands' new stores.
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