clock menu more-arrow no yes

Filed under:

Recession Affecting Rents

New, 3 comments

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

Stores are having a hard time of it these days. And landlords seem to be empathetic. According to the Times, they are lowering asking rents for retail tenants in "some of the trendiest areas" of the city (Soho and Mepa, probably). Also, we should definitely brace for more shutters in the next few months. "Industry experts say they also expect the pace of store closings to pick up in February and March, after retailers have tallied up the cost of exchanging unwanted holiday gifts for cash." [NYT]