Law360 Quotes Roket on Retail Growth in 2014

Firm News

Partner Nina Roket was quoted in a Law360 article about the rapid growth in both volume of deals and pricing in New York City's retail leasing market, which experts say will continue in 2014, due to a number of factors, including increased demand from foreign retailers. Whereas most of the country is increasingly turning to online shopping, it isn’t the same for New York City, where tourists want to shop, so foreign retailers especially are willing to pay top dollar. “As the economy has gotten stronger and customers have been more willing to patronize retail establishments, they've also become more willing to make shopping part of their vacation plan again,” said Roket. "The demographics work. Tourism is at all-time highs. People are here shopping, and retailers seem to be trying to take advantage of those opportunities. I think [retail] will be one of the top-performing sectors in the real estate market in 2014."

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