Tourism Giving Urban Corridor Retail a Boost

Consumer spending growth and the return of international and domestic tourism in 2023 drove prime urban retail demand — and net leasing strength — “with foot traffic recovering to pre-pandemic levels in half of the prime corridors surveyed,” said the City Retail 2024 report from Jones Lang LaSalle.

The report focused on the prime urban corridor, “a nationally recognized shopping district that is noted for its mix of high-street, national, and international tenants,” JLL wrote. They are a result of organic growth, not a single developer, and have boundaries that include the “most prominent retail spaces, as well as current and future points of interest.”