Retail Is Not Dead On These 5 U.S. Streets

While things may seem bleak for retail, various retail corridors around the world are commanding high rents, attracting new retailers and remain popular among shoppers and investors.

New York City’s Upper Fifth Avenue has the highest annual rent around the world at $3K/SF, followed by Hong Kong’s Causeway at $2,725/SF and London’s New Bond Street at $1,720/SF, according to a report from Cushman & Wakefield. The Main Streets Across the World report tracks 451 top retail streets and ranks the most expensive in 68 countries by prime rental value.

“Despite a lot of negative headlines, global retail remains as dynamic and vibrant as ever in response to technological and demographic change across the world,” Cushman & Wakefield head of Europe, Middle East and Africa (EMEA) Retail Research Darren Yates said. “The most innovative retailers are combining their online and physical platforms to create a seamless omnichannel experience for the customer, but profile and location play such a crucial role in the premium retail experience.”...