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Midtown East and food users dominate leases in first half of 2017

  • ​54.9 percent of all retail leases in Manhattan in the first half of 2017 were located on the east side; 20.3 percent of these leases were located in Midtown East, contrary to the notion that the center of the city is shifting west.
  • Food users led the industry category analysis, with 38.9 percent of leases being signed to restaurants and other food tenants; apparel was the next highest category, claiming 19.2 percent of leases.
  • Of the food leases signed, almost half (47.7 percent) were for quick-service restaurants (QSR), while sit-down restaurants comprised 30.8 percent.
  • Meanwhile, more than three-quarters of all leases (76.6 percent) were smaller than 5000 sf, showing that tenants are making an effort to do more with less by downsizing store formats. ​

Source: JLL Research

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