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High street rents go, well, sky-high
Current retail thinking that the high and the low ends are driving the industry has gotten a boost from CBRE Group. High street rents are off the charts worldwide, according to company’s just-released Global Retail Rents report. Rents in prime shopping locations during the second quarter were up 30% in Rome, 24%, 20% in Milan, and 14% in Sydney and New York.
New J.C. Penney location emerges in San Bernardino
In an age when mall owners’ overriding challenge is what to do with the space left by departed department stores, one 50-year-old center in California landed a new one. Penney last week opened a 119,000-sq.-ft. location at Inland Center in San Bernardino, joining co-anchors Macy’s, Sears, and Forever 21. The fully renovated space it occupies was last home to Gottshalks.XThis ad will auto-close in 10 seconds

