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New York City second to Hong Kong in world’s highest retail rents
Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong’s continued top position as the world’s most expensive global retail market, recording prime rents nearly 150% higher than New York City.
London ranked third, with prime rental rates 400% lower than Hong Kong’s.
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Century 21 tries out smaller footprint
ELIZABETH, N.J. — Century 21 is opening a new concept store at the Outlet Collection Jersey Gardens in Elizabeth, N.J. The retailer hopes a smaller footprint will offer shoppers an “elevated shopping experience” with a highly edited assortment of fashion and accessories for men and women.