Amy Zimmer reports in DNAinfo.com:
Though retailers across the country are having a dismal time as Amazon increasingly lures shoppers online, Brooklyn’s main retail corridors are still in demand, according to an analysis by the Real Estate Board of New York.
Foot traffic is increasing in many parts of the borough thanks to new hotels, offices, and residential development, according to the report released this week, with retailers eyeing rapidly changing areas including Bushwick and Crown Heights.
Average asking rents for retail spaces were up year-over-year in 10 of the 15 retail corridors the report examined.
“New developments are drawing more attention, particularly from retailers that are looking to develop a presence in Brooklyn as an extension of their Manhattan mainstays,” John Banks, REBNY president said in a statement.
“In spite of shifting national retail market conditions, Brooklyn continues to present attractive storefront opportunities in growing, more densely populated neighborhoods.”
In Park Slope’s Fifth Avenue Business Improvement District, rent shot up when Barclays Center came in and landlords believed the foot traffic would go up.